Why won’t taxes increase at the same rate as values?

Values and taxes do not have a one-to-one relationship. Ohio law protects property owners from experiencing large increases in taxes as a result of large increases in values.

Levies make up most of each property owner’s tax bill. Besides some very rare exceptions, levies always generate the same amount of revenue as when they were first approved by the voters. As property values increase, like they will in 2023, the tax rates of those levies will be lowered to ensure no additional taxes are generated.

So, as a whole, levies won’t generate more taxes due to the increases in values.

Graphic showing that for levies, Value x Rate = Tax. When the value increases, the rate decreases.

Show All Answers

1. Why won’t taxes increase at the same rate as values?
2. So what will cause taxes to increase?
3. Do you have an estimate of how much taxes will increase?
4. Can you calculate how much my taxes will change?
5. When will I know exactly what I will pay in taxes after the property value update?
6. Where do my taxes go?