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As a property owner in the city of Toledo, I can tell you that property taxes ARE high, relative to the value of your property. If a house sells for, say, $29,000, yes, that is an inexpensive house, but if the city values it at, say, $45,000 for tax assessment purposes (and they do this all the time) then the property taxes are high relative to the true value of the property.
Toledo's budget has been coming up short and each year it has and will get worse. When people and jobs leave, so do their tax dollars. So the city overassesses those of us who are left to try to fill the hole instead of taking a good look at why people and jobs are making a mass exodus and trying to address it.
We live in a suburb of Toledo and have a few very well kept rental properties in West Toledo. The property values and going rates for rent are plummeting. My husband grew up in West Toledo and is one of those people that all those pp's were referring to: been here all his life, can't think outside the box, it's not that good, but there are worse places, etc. but even he is finally getting fed up (thank God!) Hopefully we will still be able to sell our properties in Toledo if we list them this spring, which is the plan because we are fed up with being one of the responsible, property-owning citizens that are left behind and getting taxed up to our eyeballs to try to make up for all the people who have already gotten out.
If you are one of those Carty-esque (referring to the mayor, Carty Finkbeiner) cheerleader "things are great in Toledo--really...they ARE!!!" type of people, PLEASE do not scold me here for merely speaking the truth. You have your opinion, and as a 20+ year property owner in the city of Toledo, I am also entitled to mine. Toledo is dying a slow death. Can anyone or anything turn it around? Unless a couple of blue collar factories move here (not likely, obviously) that would employ thousands, I seriously doubt it. There are waaayyyy too many people in Toledo who never aspired to anything more than getting out of high school and getting a decent paying blue collar job and just assumed that the company and the union would always take care of them. Those people are now on unemployment, and everyday on the local news there are announcements of more and more blue collar layoffs, with the companies not only laying off, but either closing up for good or moving out of the country. Goodbye, Toledo.
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