Being civic-minded means caring about the community around you and the welfare of neighbors. But that concern often comes with a price tag in the form of tax levies.
Tax levies are used to raise additional monies to fund the programs and services in our local communities. Hamilton County, Ohio voters have historically been generous with their dollars, and that’s why its property tax rate is higher than in other areas.
Since tax levies affect how much you pay in property taxes, knowledge is power. Do you know what you are currently paying in property taxes and how approved and proposed levies will impact the amount you pay? If not, here are some easy ways to find out if you live in Hamilton County:
- Look up your address on the Property Search tab of the Hamilton County Auditor’s web site (or the county in which you live). Go to the Levy Information view for a run-down on what levies have passed, as well as how and when they will affect your tax bill.
- Next, check out the Property Summary for your property. What is the Fair Market Value or Market Total Value of your property? Do you agree with it? Is it too high or too low? Does the auditor have the number of bedrooms and bathrooms for your property listed correctly? If it’s not correct, you can challenge it.
- Vote in your municipality’s next local election and stay up-to-date on the issues, so you understand how they will impact your property taxes.
Making your tax burden more manageable
If tax levies in your area are putting a burden on your finances, maybe it’s time to re-examine your complete financial picture. First Financial Bank has professionals in money management, mortgage lending and consumer lending to help walk you through the process and find solutions to making your property tax burden more manageable.
Perhaps now is the time to consider a mortgage refinance? Or, would a home equity line make sense for you? Are you over the age of 65 or a disabled military veteran? You might qualify for a homestead exemption.
At First Financial Bank, we are a community bank, not just a bank in your community. We understand the local issues that can impact your finances, and we are here to help you. Connect with a mortgage loan officer, today.