can anyone comment on their expenses with property taxes in Dayton. Will they get reassessed after the sale? I tried calling the assessors office but it is just a long hold.
I calculated it as 100k market value then 35% off that then 116.5 mills which can be about 4k on a 100k property.
Also any recommendations for a realtor and property manager in the city?
Rental Property Investor · Conover, OH · Member since 2016 · 55 posts · 48 votes
7y
@Johnny Weekend
At the beginning of the year you can ask for an adjustment. They did adjust (lower) the value of a house I bought by $15000. However, even with the adjustment, the price they have it valued at, is still more than I paid for it.
I also own properties outside of Dayton in Piqua Ohio. It’s in Miami County. If you provide proper documentation, they will lower the value of the property to the price you paid for it, which has saved me lots of money.
Real Estate Agent · Dayton, OH · Member since 2015 · 86 posts · 36 votes
7y
That's a pretty fair analysis. One of mine is evaluated around $100,000 and taxes are about $4,000 per year.
Montgomery County (where Dayton is located) is notorious for not updating the value after a sale. I've seen properties that sold in 2005 for $350,000 still tax evaluated at $150,000 or something similar. Although there is no rhyme or reason so we just always assume they will adjust.
Rental Property Investor · Conover, OH · Member since 2016 · 55 posts · 48 votes
7y
@Johnny Weekend
At the beginning of the year you can ask for an adjustment. They did adjust (lower) the value of a house I bought by $15000. However, even with the adjustment, the price they have it valued at, is still more than I paid for it.
I also own properties outside of Dayton in Piqua Ohio. It’s in Miami County. If you provide proper documentation, they will lower the value of the property to the price you paid for it, which has saved me lots of money.
Rental Property Investor · Dayton, OH · Member since 2015 · 312 posts · 273 votes
7y
They will reassess your property, but only if you file a complaint as to the valuation they have on the books. This is done in March of the year. Remember, the best and most current value assessment is what you paid for it plus what you put into it. Therefore, if there is a discrepancy between what you paid and what it is assessed as for tax purposes, it pays to file a complaint before you rehab the place. You will have to bring your own appraisal to the hearing.