Lucas County’s 2024 property reappraisal and recent tax levies have sharply raised tax bills, but homeowners can appeal or apply for exemptions.
If you own property in Lucas County, there’s a good chance your property tax bill just gave you a serious sticker shock. It’s frustrating and unexpected, and it can feel too much. But before you start wondering if you can afford to keep your home, let’s break down what’s going on—and how you can tackle it.
Why are property taxes skyrocketing? Lucas County reappraises property values every six years to align tax rates with current market conditions. That’s why you just got that eye-popping tax bill. In 2024, property values are way up—thanks to inflation and rising demand for homes in Northwest Ohio. In short, homes are getting more expensive, which means higher taxes.
However, it’s not just about the market. When local governments approve new tax levies, your taxes increase even more. When these two factors are combined, suddenly, owning property feels more like a financial burden than an investment.
What can you do to manage your property taxes? These rising tax bills might seem daunting, but there are strategies you can use to bring that burden down. Here are a few to get you started:
1. Challenge your property valuation. If you believe your property’s assessed value is unfairly high, you can file a tax appeal. You’ll need solid evidence, like sales data for similar homes or proof of declining rental income, but it can be worth it if you feel your property is overvalued. This isn’t easy, but it’s an option that could save you real money.
2. Apply for the homestead exemption. Ohio offers a tax break for homeowners over 65, disabled veterans, and qualifying low-income seniors. With a homestead exemption, you can lower the taxable value of your home by up to $50,000, which translates to a smaller tax bill. If you qualify, don’t leave this money on the table—apply today.
3. Relocate to a lower-tax area. Moving is a big step, but it’s worth it for some. However, remember that other places might face similar reassessments soon, so it’s not always a guaranteed fix. If you’re committed to lowering your cost of living, moving to a lower-tax county might be an option.
4. Stay informed and vote wisely. Every time local levies come up, consider how they’ll affect your tax bill. Your vote has a direct impact on your finances. You can make a difference by staying informed and participating in local elections.
Property taxes aren’t just numbers on a page; they affect real people, real families, and absolute financial stability. If you’re overwhelmed by rising costs, you’re not alone, and it’s okay to take action. Homeownership should be a source of pride, not a financial nightmare. So don’t wait to explore these options and see what’s possible.
Don’t let rising property taxes hold you back. Take control by exploring your options and making choices that benefit you and your family. Contact me at (567) 408-4811 or jon@modene.com for guidance, insights, and the support you deserve. I’m here to ensure your real estate journey is one of confidence and success.
