The value of property tax is skyrocketing
CLEVELAND (WJW) – The FOX 8 I-Team has found homeowners in Cuyahoga County who will be receiving letters in the coming days showing their new property tax values with the biggest increase since 2008.
Cuyahoga County Director of Operations Lisa Rocco said that on average, the value of property taxes increased by 16%.
The county points out that your actual tax bill may not increase exactly as much as the increase in the value of the property tax.
But, clearly, it will affect your wallet.
The county says this is part of a review conducted every three years based on real estate sales. And, the market has been hot.
Lisa Rocco said: “We have seen an increase in sales, values and purchase prices. People keep buying. They continue to pay higher amounts for the houses. It’s exciting for the communities because they see their values increase. It’s an increase in sales that we haven’t seen for a very long time.
So what if you don’t agree with your new property tax value?
You can appeal and you have until next March to do so.
You can read more about this and view the tax values in your community here.
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