Property values climb in Montgomery County

A 2020 reappraisal shows property values climbed over the past three years in every Montgomery County township and city but one. The gains will be reflected in a majority of tentative taxable value notices going out to property owners later this week.

Nearly 40% of Montgomery County’s $1.8 billion increase in property values over the past three years were in Kettering, Dayton and Washington Twp., according to a reappraisal by the Montgomery County auditor.

Total market value rose more than $292.5 million in Kettering, $209.4 million in Dayton and $194.2 million in Washington Twp., though other municipalities realized larger percentage increases on residential and commercial properties.

ExploreFIRST REPORT: Montgomery County property values rise despite tornadoes

With the addition of Miami Twp., Huber Heights, Centerville and Miamisburg, the seven accounted for 69% of the county’s total $1.8 billion, or 7% rise in taxable property values since 2017, Montgomery County Auditor Karl Keith told more than 80 government officials via a Zoom meeting Tuesday while releasing the figures to jurisdictions.

A robust housing market is responsible for most of the gains and the overall increase in values signals a strong financial base for the community, Keith said.

“It means that the economy is growing,” he said “Our community has turned a corner from from the recession.”

The largest gain since 2005 brings the the total tax value on about 252,000 parcels in the county to roughly $28 billion, Keith said.

Residential values went up 7.4%. Commercial and industrial values, which lagged in 2017, rose 5.9%.

Dayton property values barely budged in the 2017 triennial review, rising then only 0.5% or $21.3 million. Values are up 5.5% this year, or $210 million, representing 12% of the countywide increase.

“Those are big numbers for Dayton,” Keith said.

Overall, the southern suburbs accounted for 56% of the county’s growth in property value. The northern suburbs experienced the next greatest share of total growth with 19%, followed by 18% in the urban core and 7% in the rural western portion of the county.

Miamisburg was the only city in the county to see a double-digit change, up 10%.

Realtor Mark Fornes pointed to opening of the Austin Boulevard interchange at Interstate 75 about a decade ago as key to the “spike in demand” for commercial and residential property in Miamisburg.

“That trend is as big as any I’ve seen since I’ve been in the business,” he said.

Both Englewood and Huber Heights in the north saw housing gains top 9%.

The new numbers are an about face for Englewood, said City Manager Eric Smith.

He recalls being disappointed in the last valuation but is “pleased” to see an increase this year, up from 2.6% in 2017.

“I think that’s a substantial improvement to property value,” Smith said.

Smith cited a strong code enforcement program and recent capital improvement projects, like redoing the intersection of State Route 48 and Interstate 70 and the surrounding landscaping, with raising the value of Englewood properties.

Huber Heights Mayor Jeff Gore sent news of the city’s value increase to residents via Facebook on Tuesday.

“Typically our homes are the biggest investment we make outside of a possible business investment,” he wrote. “Increased property values help us individually and collectively as a community along with our schools.”

The preliminary figures show 70% of residential properties gained taxable value. About 81,000 property owners will see a double digit increase in their values, which shows most people’s largest asset is appreciating in value, Keith said.

Despite getting slammed with a 2019 Memorial Day tornado, Trotwood’s values rose 6.8%, gaining $40.7 million. Likewise, Harrison Twp. saw a gain of $31.9 million, or 4.8%. Harrison Twp. was the only jurisdiction to show a decline in 2017.



About 1,200 owners with tornado damaged properties sought tax relief resulting in a $46 million reduction in tax value. Another $35.1 million in storm losses will be removed from the value sheets as a result of the reappraisal, Keith said.

ExploreMore than 1,300 owners due tax relief for tornado-damaged properties haven’t applied

Property values rose in all Montgomery County jurisdictions with the exception of Phillipsburg, according to the tentative data.

Oakwood, which had the largest 2017 percentage increase — 13.5% — among municipalities, gained a more modest 4.6% during the 2020 reappraisal.

Story continues below chart.

Montgomery County property reappraisal, 2020

Kettering, Dayton and Washington Twp. accounted for more than a third of the county's $1.8 billion increase in property values since 2017. Altogether, residential and commercial/industrial property values rose 7%.
JurisdictionTotal market value changeResidential value changeCommercial/industrial value changeTotal combined change
Kettering 292,543,578 9.21%8.39%9.03%
Dayton 209,428,277 6.90%2.60%5.47%
Washington Twp. 194,224,773 6.25%5.33%6.09%
Miami Twp. 158,602,279 9.17%10.78%9.67%
Huber Heights 149,956,837 9.09%6.55%8.56%
Centerville 129,476,547 6.70%6.96%6.76%
Miamisburg 118,297,073 8.77%13.68%10.01%
Englewood 62,096,505 9.19%5.91%8.33%
Vandalia 53,376,309 5.19%5.93%5.43%
West Carrollton 46,881,621 9.10%9.88%9.35%
Oakwood 43,102,427 4.41%8.55%4.57%
Trotwood 40,742,147 8.72%0.52%6.82%
Riverside 36,996,754 6.01%1.94%5.25%
Harrison Twp. 31,866,105 6.96%1.54%4.78%
Butler Twp. 28,064,126 4.61%3.74%4.46%
Union 26,825,163 9.54%3.82%8.87%
Germantown 25,912,169 9.85%7.01%9.50%
Jackson Twp. 23,507,304 8.81%24.67%9.85%
German Twp. 22,736,719 11.15%9.75%11.03%
Clayton 21,720,737 3.37%1.80%3.27%
Brookville 20,545,341 7.44%4.01%6.54%
Perry Twp. 20,018,996 9.34%5.31%9.19%
Moraine 19,225,675 4.09%4.97%4.67%
New Lebanon 11,261,756 7.60%20.35%9.62%
Jefferson Twp. 9,488,113 5.04%7.05%5.14%
Clay Twp. 7,602,354 5.68%5.37%5.61%
Farmersville 3,003,940 6.83%8.64%6.95%
Phillipsburg (211,706)-2.03%11.37%-1.03%
*Total 1,806,763,700 7.35%5.88%7.01%
*Sum of jurisdictions does not precisely reflect accurate countywide total due to minor overlaps caused by certain annexations.
Source: Montgomery County Auditor's Office

Residential property values climbed 7.4% reaching about $21.2 billion. Commercial properties rose 5.9% to $6.4 billion, according to the auditor’s tentative numbers. The remainder is the value of land used for certain agricultural purposes.

Keith said values increased in 75% of the county’s neighborhoods. Gains were seen in 837 neighborhoods. But 277 neighborhoods saw decreases, some still to recover from the Great Recession, Keith said.

About 30% of neighborhoods — or 332 — showed double-digit percentage increases, according to the auditor’s office.

But a 10% or more increase in value doesn’t mean a homeowner’s tax bill will go up a similar percentage, Keith said.

Public safety, school and other tax levies stay generally level unless citizens vote an increase, Keith said. Inside millage, a smaller portion of the overall real estate tax bill can’t exceed 10 mills by law, may increase or decrease based on the valuation, he said.

Tentative value notices headed to property owners will include information on how to appeal a valuation, Keith said. The new values will be firmed up later this year and affect tax bills beginning in January 2021.



County auditors are required to do a full general reappraisal once in every six years. The auditor and a qualified appraiser are required to view and appraise every property. On the third year in between reappraisals, the auditor is required to perform a triennial update, last completed in Montgomery County in 2017.

While the market has robust at the moment, the reappraisal doesn’t factor in may happen with the coronavirus pandemic, Keith said.

“Given the number of businesses that have had to close their doors and shut down or scale back and or layoff employees or be out of business for a certain period of time ... it’s uncertain at this point.”

Staff Writers Lawrence Budd and Bonnie Meibers contributed to this story.

About the Author