“The six-year revaluation performed in 2025 shows property values to be approximately 30 percent higher than in 2019. Absent a voluntary reduction in millage this would substantially increase property taxes due throughout the county in 2026. The county Budget Commission’s recommendation to Tipp City provides a 5 percent increase in revenues from the prior year which is much closer to the annual rate of inflation,” Green said.
“The county Budget Commission did say this decision could be re-evaluated annually if the city’s financial situation changes,” he added. The action would reduce taxes on a house valued at $200,000 by around $13 per year, Green said. Council approved the reduction last week (Dec. 1).
County Commission President Ted Mercer thanked Tipp City for agreeing to the reduction.
“I am glad the Tipp City Council considered slowing the automatic growth of property taxes, and provide relief to its homeowners. I want to thank the Miami County budget commission for modifying this property tax levy they deemed unnecessary or excessive,” Mercer said. “The commissioners are also glad the state legislature is looking into regulating spikes in future property tax increases. Giving homeowners tax relief on unvoted mileage is just the right thing to do.”
Other jurisdictions are looking into taking similar steps, Mercer said.
The Miami County commissioners in the fall approved two property tax relief measures intended to reduce financial pressure on residents and take advantage of the county’s strong finances.
“Taxpayers have been pleading for property tax relief, and this is the right thing to do at the local level,” Gearhardt said. “The county is committed to doing our part by forgoing what would have been a significant spike in property tax revenue for tax year 2025.” The commission approved two measures:
- To reduce the county general fund inside millage. This will freeze the county inside millage at the tax year 2024 levels, which commissioners said will allow taxpayers to avoid a significant unvoted increase in property tax revenue for the upcoming year. The reduction is from 2.40 mills to 1.88 mills for tax year 2025, payable in 2026. This means the county will not receive more than $2.2 million in unvoted tax revenue.
- The county also will enact the Local Option Homestead Exemption allowed by the Ohio Revised Code. The county estimated this will save $2.9 million in savings to those enrolled in the program. Gearhardt said this measure would bring those in the general Homestead program average annual tax savings from $379 to around $750. The county has approximately 7,000 property owners enrolled in the homestead program. Disabled veterans and/or surviving spouses would see savings rise from $763 to approximately $1,500 a year. With this action, tax levies tied to overall county government purposes will forgo more than $450,000, the commissioners said.
Contact this contributing writer at nancykburr@aol.com.
About the Author