Homeowners across Northeast Ohio may have done a double-take recently after seeing jumps their home evaluations.
The first major home appraisal since the pandemic found an average property value increase of 32% in Cuyahoga County. Lake, Geauga, and Lorain County saw similar increases as well.
While the value of many homes is increasing 20 to 30%, county auditors are reassuring homeowners that their taxes may not increase that much.
A shortage in housing stock is pointed to as the main reason for the sharp increase in values.
Monday on the “Sound of Ideas,” we'll assemble a panel to discuss in this topic in detail.
We'll hear from Lake County's auditor, which is a county seeing a 28% increase in property values this year. Cuyahoga County's fiscal officer will also join us, as will a tax researcher from Policy Matters Ohio.
The panel will discuss more of the reasons why the increase is happening this year, as well as talk about resources. Cuyahoga County has several information sessions open to the public. You can find more details here.
Later in the hour, we'll share reporting that was done by Mother Jones and the podcast “Reveal” that dives into the promise of "40 acres and a mule" that was made in the aftermath of the U.S. Civil War.
The investigation found that thousands of acres of land that was promised to African Americans was eventually given back to white plantation owners.
Cuyahoga County Fiscal Officer website
Guests:
- Michael Chambers, Fiscal Officer, Cuyahoga County
- Zach Schiller, Research Director, Policy Matters Ohio
- Chris Galloway, Auditor, Lake County
- April Simpson, Senior Reporter, Center for Public Integrity
