All Forum Posts by: Kevin Noesner

Great topic! My opinion is that either Parsons Ave or West Broad has the most potential to be the next Short North. Both areas are coming along nicely and are commercial corridors to downtown. I’m pulling for Parsons Ave because it almost mirrors the Short North but on the southern side of the city. A lot of residential investment has already gone into that area and those are potential customers that may want walkable shops and restaurants. Either way I’m excited to see all the new development in Columbus. As an investor, it’s great to ride the wave!

Siqi C. The property tax will not grow proportionally. Franklin county keeps the actual value close to the vest until the end of the year, but state law doesn’t allow levys to bring in more than their original proposal so they will be divided amongst all the new values. Since school levys make up most of your property taxes, the total taxed will not double. But keep in mind that any new taxes voted on earlier this month weren’t included in that value either. Long story short is it’s complicated so just wait a month if you can to see the new actual value.

Michael Hamby that list could be a nice asset if you could find sellers in niche neighborhoods. DM me sometime and we can discuss what you have in my target areas.

Ben Freiman I have all my SFH residents pay their own water bill. Columbus Utilities provides a Tenant Billing Agreement on their website that you can both fill out, email to Columbus Utility and then the bill will be mailed to them. And while it's true that you're ultimately responsible for the bill, good tenants will pay it. And if they are late, you will get a notice as well so it will never get to a lean in your property situation.

Jessie Niu I've never had a bank take the appraised value from the auditor into consideration that I'm aware of. They always do their own appraisals on a refi.

Jessie Niu It won't affect the county's valuation unless your appraisal comes in lower and you file a complaint with Franklin County to lower to your recent appraisal value.

Robert Ellis just about everything went up. I'm in mostly transitional areas so mine went up an average of 81%. I think this was the big reassessment that happens every 6 years so they left no stone unturned. Updated values have been mailed out so they will find out soon enough or they can look it up online at the Franklin County Auditor website.

Time to buy a lottery ticket Jessie Niu before your luck runs out! The appraisal value is not tied to your financing so I think you just got lucky on this one. I have a similar case where I bought one cheap with cash. I fixed it up and my new value went up 566%! No joke!!

I'm right there with you Grant Patmon And honestly a lot of the new values are legit in this crazy market! I wonder if anyone has tried the argument that they are stuck in a long term lease and doubling a fixed cost like property taxes is unreasonable. They have considered rent rolls in the past, but I'm not holding my breath this time.

And word to the wise...if you haven't reviewed what your new appraised value is in Columbus, you should. My yearly fixed cost of estimated property taxes went from about 13% of my gross to 25%! That's about the cost of paying for a property management company! There are informal value review meetings for this 6 year reappraisal throughout Sept and I would suggest investors to consider attending along with data supporting any over estimates. I've been able to reduce my taxes during these Franklin county run events in the past so it's not a waste of time. http://apps.franklincountyauditor.com/Informals/Tentative/Locations