Cincinnati Home Buying Tip: Don't Buy A Home & Get A Tax Bill Surprise!

By
Real Estate Agent with Comey & Shepherd Realtors

Are you planning to buy a home in Cincinnati, Ohio in the near future? 

If so, when viewing properties, make sure you do a double take at the property tax amount.  You need to confirm that the tax bill amount is accurate with your local county auditor's web site.

Then you need to take it one step further and check to see if a Homestead Exemption discount has been deducted from the tax bill amount.  (In the state of Ohio, a person 65 years of age or older may qualify for the discount.)  You see, Multiple Listing Service (MLS) property sheets can show the wrong tax amount.  If the listing agent didn't check to see if the sellers qualifies for the Homestead Exemption discount, they may enter the lower tax figure on the MLS sheet.  Then you assume that's the correct tax amount.  In 6 months, when the next tax bill comes out and it's several hundred dollars higher, you get very upset.

So when you are deciding on a property to purchase and you want to figure out what the monthly payment will be, make sure you find out the correct annual tax amount.

2009 is a great time to buy - Lots of Properties For Sale...Low Interest Rates...Favorable Pricing!

Are you a first-time home buyer?  Attend our Free Home & Condo Buyer Tele-Class.  For details and upcoming class dates, go to: http://www.HomeBuyingClass.com

Are you ready to find your dream home? Contact me for a Free Home Buyer Consultation at: (513) 615-1890 or dan@danweis.com No cost...No obligation...No sales pressure!

Posted by

Dan Weis
Real Estate Consultant since 1985
Comey & Shepherd Realtors

Cell/Text: 513.615.1890
dan@danweis.com
www.CincinnatiRealEstateGuy.com

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Rainer
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Barbara Delaney
Park Place REALTORS, Inc. - Roanoke, VA

Dear Dan,

That is a good warning! The actual amount of taxes paid can really skew the value if you are doing a market analysis. If a buyer bases a purchase on the taxes paid by the previous owner, they could wind up with a very rude awakening.

Thanks for taking the time to comment on my appraisal post!

Barbara

Jan 27, 2009 06:39 AM #1
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Dan Weis

Cincy Real Estate Advisor
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