We have recently been working with the Liberator Group trying to expand our understanding of what is happening to property taxes in Northeast Ohio. We have received comparative property taxes for a ten year period, by political sub-division, from the Auditor’s office of the following communities: Cuyahoga, Geauga, Lake, Lorain, Medina, Portage, Summit, and Trumbull. Here is a summary of our findings:
It should be obvious to every taxpayer that funding for public schools and community colleges are out of control. However, public libraries and park districts have also enjoyed healthy increases in property tax revenue.
Our message to taxpayers is this: “Wake up! We are in a death spiral with these increasing property taxes. Seniors and those living on fixed incomes are being priced out of their homes, and middle income taxpayers are slowly, but surely, approaching their housing affordability threshold.
Please remember – when your mortgage, utilities and property taxes reach 30% of your annual income, your home is deemed “unaffordable” for you. If you keep voting for more property taxes, you will, in effect, evict yourself from your own home.
You see, numbers can “talk”.