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Old 11-16-2011, 01:12 PM
 
Location: Cincinnati
3,335 posts, read 5,725,886 times
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Quote:
Originally Posted by ram2 View Post
How did Ohio survive back in the 1960s when property taxes were lower and the state sales tax was only 3% ?
fewer legacy costs like infrastructure (highways were new, population wasn't sprawled), pensions (there were far more workers than retirees), employment was more available and blue-collar pay relatively higher; the manufacturing sector was going strong with big businesses paying closer to their fair share - corporate tax dodging and boundary hopping resulting in near permanent tax aversion for ohio companies hadn't occurred.

just some thoughts of the top of my head. it was a different time.
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Old 11-16-2011, 06:40 PM
 
5,310 posts, read 6,608,894 times
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Quote:
Originally Posted by progmac View Post
fewer legacy costs like infrastructure (highways were new, population wasn't sprawled), pensions (there were far more workers than retirees), employment was more available and blue-collar pay relatively higher; the manufacturing sector was going strong with big businesses paying closer to their fair share - corporate tax dodging and boundary hopping resulting in near permanent tax aversion for ohio companies hadn't occurred.

just some thoughts of the top of my head. it was a different time.


I would think maintaining highways would cost less that initial construction, sort of like yearly home maintenance costs less than the purchase price of a home.
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Old 11-17-2011, 05:32 AM
 
Location: Mason, OH
9,259 posts, read 13,358,349 times
Reputation: 1919
Quote:
Originally Posted by ram2 View Post
I would think maintaining highways would cost less that initial construction, sort of like yearly home maintenance costs less than the purchase price of a home.
Nope, I don't think that is true. Maintaining traffic while rehabbing a highway is a very inefficient and costly process. Temporary lanes, piece-meal construction, etc. all add up to high cost. Initial construction on a green-field when the interstates were first born was far more efficient. Look how virtually all reconstruction today is using asphalt, giving concrete time to cure is not in the plans. Contrary to industry claims, asphalt has no where near the load bearing capacity of concrete. That is why in short order you have a washboard effect and the reconstruction must start over. A never ending cycle.
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Old 11-24-2011, 06:18 PM
 
Location: New Albany, Indiana (Greater Louisville)
9,583 posts, read 20,456,271 times
Reputation: 9077
If you know where to look on each town/ cities City Data page the property tax rates are listed.

For Mason for average p.t. for a mortaged house was $3,505 (1.5%) and $2,628 (1.6%) for a non mortaged house

By comparison the average for a mortage house was $918 (0.6%) in Georgetown KY and $582 (0.5%) for a non mortaged house.

Where my aunt lives in a Philly surburb the rate is 2.3%!!! She pays $3,000 a YEAR for a 3 bedroom townhouse in the hood
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Old 05-18-2012, 04:27 PM
 
45 posts, read 187,270 times
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so what is the 'true value'? 35% of purchase price? Or 35% of assessed price?
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Old 05-18-2012, 04:45 PM
 
Location: Mason, OH
9,259 posts, read 13,358,349 times
Reputation: 1919
Quote:
Originally Posted by oliver6323 View Post
so what is the 'true value'? 35% of purchase price? Or 35% of assessed price?
Supposedly the true market value of a house is the price it will sell for on the open market. Of course in the last few years this has been changing rapidly as houses have lost value. In many areas, as the stipulated periods for reevaluation of property have come up, home values have been reevaluated downward. In Ohio, the tax valuation is based on 35% of the true market value. For example, if the true market value of a home is $100,000 and we are talking about a tax levy of 5 mils or $5 per thousand, this tax would be equal to .35 X 100,000 or 35,000 x .001 or 35 x 5 = $165 per year.
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Old 05-19-2012, 06:30 AM
 
Location: Mason, OH
9,259 posts, read 13,358,349 times
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Note... If you buy a property for less than what it is listed in the county auditor's tax appraisal, you can petition to have the evaluation reviewed to bring it in line with actual purchase price. However, if an unusual economic condition such as a foreclosure is involved in the purchase this may not be granted. Also recognize we run a year behind in property tax payments. The propertry taxes we are paying in 2012 are for tax year 2011. Therefore any change in tax evaluation may not show up immediately in the tax bills.
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Old 05-19-2012, 05:22 PM
 
Location: New Albany, Indiana (Greater Louisville)
9,583 posts, read 20,456,271 times
Reputation: 9077
Property taxes are the main reason NKY is outgrowing the Ohio side by a large margin. From 2000 to 2010 the 12 Ohio counties in the Dayton/ Cincinnati Metroplex only grew 2% (2,643,502 to 2,696,190 +54,688) while Northern KY grew by 12% (370,715 to 416,995 +46,280). Ohio and the rest of the Midwest (sans Indiana) have tax rates that can not compete with states in the South and Interior West and will continue losing jobs and people until that is remedied.
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Old 05-19-2012, 05:48 PM
 
Location: Mason, OH
9,259 posts, read 13,358,349 times
Reputation: 1919
So what are you saying? Do people in KY doing public works work for less than workers in Ohio? Does aslphalt cost less in KY? Do KY teachers make less than their counterparts in Ohio? Just what do you attribute the so-called lower tax rates in KY to?
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Old 05-20-2012, 11:28 AM
 
1,556 posts, read 1,461,700 times
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My property tax rate in Mason is approx. 1.8% of the purchase price.
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