Auditor David Thomas HB 187 a Change to Ohio's Property Value Process

HB 187 A Change to Ohio's Property Value Process
State Representatives Thomas Hall & Adam Bird for Ohio State Representative introduced HB 187 recently aimed at helping to moderate large changes in property values in Ohio for property taxation purposes. With Ashtabula County currently in our State Mandated Triennial Property Value Update Year, this could have an impact on property owners. I help to explain the aim of the bill which I support and the process of Value changes and taxes.
This is only a band aid for the problem, though a welcomed one. Remember that changes in taxes owed and property values are not directly correlated. Voted levies stay constant, but unvoted taxes with the 20 Mill Floor to schools and 10 Mills of inside Millage, is correlated to values changes. The problem is inside millage but also, an eroding tax base due to exemptions and state carveouts causing tax rates to increase and fill the gap.