Do you have any input on long term/annual anticipated property tax increases for the Columbus, OH region?
I know this can be a difficult factor to calculate, but any input for including this in a deal analysis would be helpful.
They just did a new evaluation of property values in Columbus that will kick in next year.
Here's an article: http://www.dispatch.com/content/stories/local/2014...
And here's a link to where you can look up by address the old value and the new value: http://www.dispatch.com/content/pages/data/governm...
Here's the problem you'll have in an analysis: school tax levies. I don't know how it is where you live, but here the citizens get to vote on whether to give their schools more money, and those funds are added to property taxes (occasionally there is an income tax, but 90% of the time it is a property tax). As a result, there are levies in nearly EVERY election - May and November - because it will take 8 elections to get one to pass.
It is worth your while to do some Googling on Columbus school levies. The 2013 Levy proposal would have cost homeowners an additional $300 per $100,000 of house value. That was soundly defeated at the polls. I don't think there is a levy proposal on the upcoming ballot. But there will be at some point.
Thank you very much.
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