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Property values ​​rise 30% after revaluation in Stark County, signs of tax increases


Property values ​​rise 30% after revaluation in Stark County, signs of tax increases

As part of the six-yearly reassessment, Stark County’s home prices are rising an average of 30 percent this year. That increase is similar to other Ohio counties and signals an impending painful tax increase for local homeowners.

The new assessments are based on calculations using data on recent home sales and on-site inspections of the exteriors of all properties in the county. Homeowners will begin receiving their new assessments in the mail next week.

Every three years, property values ​​are reassessed by the District Audit Office. In the last update in 2021, which was based only on sales data, property values ​​increased by an average of 17%.

Supply and demand are the driving forces behind this year’s increase. Results from a statewide housing study released in June showed that the county is short on housing, particularly affordable housing for low- and middle-income people.

“The shortage in the market is really adding to the upward pressure on prices,” said Stark County Auditor Alan Harold.

The high rents also attracted new customers to the housing market.

Harold said the housing shortage is exacerbated by high interest rates. People who could afford to move to another, perhaps more expensive, apartment don’t want to give up their lower interest rates.

“Moving is expensive, even moving up to the next level,” Harold said.

At the same time, commercial real estate prices are rising about 40% across Stark County. The average price per acre of agricultural land has also more than doubled this year. The CAUV’s proposed price per acre is $1,616.

The ACA’s figures are still preliminary and must be approved by the Ohio State Audit Office, but Harold does not expect the state to change the figures significantly.

Real estate values ​​increase 44.5% in Canton and Sandy Township

The significant increase in property values ​​could lead to higher property taxes, so the new values ​​may come as a shock to homeowners, said Arden Lingenhoel, president of Stark Trumbull Area Realtors.

“There will probably be an outcry,” he said. “Every time something like this happens, there is an outcry. … Often people are angry, and rightly so.”

The largest percentage increase was for homes in Canton and Sandy Township. Property values ​​in these areas increased by an average of 44.5%.

The median assessed value of homes in Canton is $80,500 and the median assessed value of homes in Sandy is $154,500.

In dollar terms, homes in the Village of Hartville saw the largest increase in median value, from $190,250 to $274,400, an increase of $78,250, or about 40%.

The most expensive homes on average in Stark County are in the Hills and Dales. The median assessed value of homes in the village is $506,200 and has only increased 8.4% in this year’s reassessment.

“We will definitely feel it.”

Caleb Heller moved to the Vassar Park neighborhood in Canton about six years ago because life is affordable there.

“We have this old brick house from 1916, and it didn’t cost us a fortune. It was a beautiful house at a reasonable price,” he said. “I love my neighbors in Vassar Park. There are a lot of friendly people who look out for each other.”

Heller, 37, works as a project manager for a hospital building and said his family and people in his community may have difficulty fitting the increased property taxes into their monthly budget.

“My wife and I had our first child a few years ago. We’re still at the very beginning,” he said. “We’ll definitely feel it.”

He said that’s the case for many people in his neighborhood. Many of his neighbors are young families or older people on fixed incomes.

More: “We either grow or we die.” Stark County housing study shows there is a shortage

Why is Canton seeing such a large percentage increase?

The median home in Canton is the cheapest in Stark County at $80,500, followed by Alliance at $99,300.

In areas with a lower overall median, this year’s value changes contribute to a higher percentage increase.

Pam Oster, a Canton real estate agent, said the area is one of the few places in the county where there are still affordable homes.

“In my opinion, you used to be able to buy a nice house in Canton for about $80,000, but now a nicer house in Canton costs about $115,000, give or take,” she said. “You’re not going to find a house in Plain Township or Perry for about $115,000 anymore…there don’t seem to be many houses in those areas that cost about $115,000 anymore.”

The lack of affordable housing across the country has increased demand for lower-priced homes in Canton.

“People are looking for affordable housing,” said Lingenhoel.

Another factor is the loss of housing due to the recent Stark County Land Bank takeovers, Harold said.

“We have removed a large part of the housing stock. Much of it should have been removed. The quality is inferior, but in many cases people lived there who were renting,” he said.

What does this mean for your tax bill?

The amount of property tax you pay depends on the estimated value of your home.

Due to increases in home values, taxes are also likely to rise in this year’s assessment, but not to the same extent as property values.

The amount of your property tax liability depends on many other factors, such as the taxes levied in your area and other deductions you may be entitled to.

Taxes also depend on which local taxes are accepted or not on election day.

The property tax deduction is available to low-income seniors and permanently disabled Ohio residents to reduce property taxes. Contact the Stark County Auditor’s Office at 330-451-7357 to see if you qualify.

Robert Fallot, a trustee in Sandy Township, said the increase is a reflection of the real estate market and he has no control over it.

He said the community’s property taxes fund the school district, volunteer fire department and an ambulance service.

“I want our children to get an education, we need the ambulance, we need the fire department. These are necessities,” Fallot said. “The main burden is borne by property owners. … I understand that taxes are rising. There is nothing we can do about it.”

How to argue about the estimated value of your property

There will be no public information sessions on the assessment this year. Homeowners with questions should call the assessor’s office at 330-451-7357 or stop by in person. It is located on the second floor of the Stark County Office Building, 110 Central Plaza S, Suite 220.

If you believe that the Audit Office has made a mistake in valuing your assets, you can lodge an objection.

“We want to hear from people,” Harold said. “We want as much hard evidence as possible. Sales. Appraisals. Pictures. Comparables.”

Occasionally, the Auditor’s Office may overestimate the value of homes. For example, if other homes in your neighborhood are selling for high prices because your home has been recently renovated, even though it has not been renovated, your value may be too high. The Auditor’s Office also does not inspect the interior of homes, so the value may change due to unknown conditions inside.

The deadline to file an informal challenge to the value of your home is September 30. After that date, property owners can still file a formal appeal with the County Board of Revision.

How much are rates rising in other Ohio counties?

The increase in Stark is broadly in line with that in other counties whose tax years are in the assessment phase, according to data from the Ohio Department of Revenue.

Portage County, which borders Stark, is seeing an average increase of 33%. Cuyahoga County and Lorain County, meanwhile, are seeing increases of 32.17% and 31.13%, respectively.

Reach Grace at 330-580-8364 or [email protected]. Follow her on X @GraceSpringer16.

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