Tallmadge treasurer: Reappraisal may change taxes, but does not increase district revenues
Based on the 2020 home reappraisal, Tallmadge residents may see an increase in their school taxes, but the district continues to yield the same total dollar amount.
"You've heard talk about House Bill 920. What that does is roll back our effective millage, so that the district as a whole does not receive additional taxes, but as individual taxpayers, some people went up and some went down," District Treasurer Jeff Hostetler told the board of education Wednesday night. "You need to take a look at what your valuation did on your property.
Overall, district values increased by about 13%. Those whose property values increased more than 13% would see an increase in taxes, whereas those whose value increased less than 13% would see a decrease.
To think of it another way, if the district's taxes were a pizza, and individual taxpayers each had a slice, the reappraisal may have changed the size of various slices, but there would be no additional pizza.
"The danger during reappraisals is that the district doesn't get additional taxes, but people see their taxes go up because their property value increased more than the average, and then there's some credibility issues because they think we're getting more when we're not," Hostetler said.
He noted that one resident saw his property value jump nearly 45%, which caused a significant increase in taxes, despite the fact that the school district did not levy additional taxes.
Hostetler encouraged residents to reach out to him at 330-633-3291 ext. 8102 with additional questions.
Reporter Krista S. Kano can be reached at 330-541-9416, email@example.com or on Twitter @KristaKanoABJ.