Tax Calculations |
Property taxes are calculated using three factors |
- Value of your property as determined by the county auditor
- Tax rate established in your community
- Tax reductions, credits, and rollbacks by Ohio law
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Property Values |
- Property was revalued by the county auditor during the 2014 reappraisal
- Based on recent economic conditions, most properties in Greene County experienced a reduction in property value
- Please be aware that an increase or decrease in property value does not result in a comparable increase or decrease in property taxes due to the HB 920 tax reduction factor (see below)
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Tax Reduction Factor |
- The HB 920 reduction factor, mandated by Ohio law, is designed to keep tax revenues stable when property values increase or decrease
- The factor that prevented taxes from dramatically increasing when property values were on the rise will also keep taxes from significantly decreasing despite declining property values
- The reduction factor will keep the revenue to schools, cities, libraries, etc. at nearly the same level as originally approved by the voters
- A portion of the tax rate is not affected by the tax reduction factor and will result in a slight decrease in a tax bill
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