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My Ohio Property Taxes Going Up 120%

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  • My Ohio Property Taxes Going Up 120%

    Just got my farms new property valuation in the mail. In Ohio we have a program called CAUV that calculates the soil type value on the past 7 years of profitability.

    Our statement gives us the old and new CAUV value as well as the county auditor's appraised market value of our property. We get taxed on the CAUV value.

    Previous Market Value 614,000
    New Market Value 557,250

    Previous CAUV Value 214,550
    New CAUV value 453,530

    Our farm is 220 acres with 188 tillable. Our corn yield averages around 140. (not the best soils)

    The 120% increase in the CAUV value will increase our per acre taxes from $46 to $111 an acre.

    Cash rents in our area are around $175. This leaves $64 profit if you rent out your ground.

    We are not too happy about this. I would like to hear from others in Ohio that are getting these notices this year. About 1/3 of Ohio counties are subject to the revaluation each year so not all of you will be seeing this adjustment at the same time.

  • #2
    Our county does the same 1/3 thing. That way the 1/3 look like a whiners when they complain about taxes going up to the other 2/3rds of the county residents. Most years the other 2/3's go down 2%-5%. The local politicians tell what few of the 1/3 show up at the annual b**ch meeting that nobody else is at the meeting complaining so shut up and take it.

    Don't worry Bins, your taxes will go down next year.

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    • #3
      Its gwanna be pretty hard to 'rent it out for the taxes' in 2 years of low commodity prices. Its just 1 of the subtle consequences of the ethanol mandate making what you grow go up in value too high too fast. I have no prediction where this is headed, but it prolly ain't pretty.

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      • #4
        Bins, is that a state or county tax?
        [URL="http://www.facebook.com/DiederichFarm"]DiederichFarm[/URL]
        "You are only as good as your next success, not your last" Sir Jock Stirrup

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        • #5
          DrD in Ohio real estate property tax goes to the county and local jurisdictions.

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          • #6
            Come on fellas, it's just like our local newspaper man said in a recent editorial urging the voters of our county to vote down a half cent sales tax and add it to property tax instead. He said, "let's face it, the farmers have had some pretty good years the last few years". Once I came down from the ceiling, my comment to the wife was I wonder if that idiot was willing to drop our taxes back on the years that weren't good (like this one). But my point is, you've had some good years. Time to pay up.

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            • #7
              Originally posted by BinswOH View Post
              DrD in Ohio real estate property tax goes to the county and local jurisdictions.
              How often do they reassess? It sounds like every three years if I'm reading you right?
              [URL="http://www.facebook.com/DiederichFarm"]DiederichFarm[/URL]
              "You are only as good as your next success, not your last" Sir Jock Stirrup

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              • #8
                Yes every three years. We took a 90% increase three years ago.

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                • #9
                  Just out of curiosity what is the property tax per acre on farm ground in other states. What are you paying?

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                  • #10
                    Hi Bins

                    Something doesn't make sense to me. I am in Lorain County and our CAUV valuation doubled last year but we are at something like $12 per acre on similar yielding ground. I went to a meeting that our County Auditor had and my recollection is that the CAUV values had gotten way out of line with market values - something like 10% of market value on a state wide average. In any case they only assess on 35% of the market value (I think) so for you to be paying $111 per acre in taxes seems almost impossible to me - are you sure that is what they are charging you?

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                    • #11
                      Here is a 185 acre parcel of some pretty good ground in Lorain County - taxes are $13.54 per acre and that may include a building:

                      Market Land Value: $545,130
                      Market Building Value: $13,480
                      Market Total Value: $558,610
                      Market CAUV: $97,400
                      Assessed Land Value: $190,800
                      Assessed Building Value: $4,720
                      Assessed Total Value: $195,520
                      Assessed CAUV: $34,090

                      If you are interested in the CAUV information that I picked up at that meeting send me a PM and I will send it to you - I have two .PDF files that go into a lot of detail on how the calculation is done.
                      Last edited by Tecumseh; 08-14-2014, 02:32 PM.

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                      • #12
                        Thanks Tecumseh. I have downloaded those detail formulas from the state's CAUV page. Look at the difference between your Cauv and market land values, then look at mine. They have changed the formula since yours was computed. You will not be very happy at the next reval.

                        We are in the city limits here and have a slightly higher millage rate than most townships. Thant will account for some of the difference. I'm preparing to contact my state electeds about this and am planning to argue there needs to be some sort of cap or averaging over a wider number of years or both. Doubling our taxes from one year to the next is not something any other business experiences.

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                        • #13
                          Our property tax bill last year was 11,000 and that could easily jump to 23,000 with this revaluation.

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                          • #14
                            Originally posted by BinswOH View Post
                            Just out of curiosity what is the property tax per acre on farm ground in other states. What are you paying?
                            In IN we pay around $23/acre. We just got a new reassement. It went up 14%. Not sure what the new rate will be yet. This is on bare land. Buildings add more.

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                            • #15
                              I paid about $40/ac for my taxes last year... no houses on that but all my other cattle buildings are so it probably isn't really comparable. About $8000 on a little less than 200 ac.
                              [URL="http://www.facebook.com/DiederichFarm"]DiederichFarm[/URL]
                              "You are only as good as your next success, not your last" Sir Jock Stirrup

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