Crowley on Property Tax Debate

By Charter the City can levy a property tax rate of 6.1 mills. The City’s
portion of the property owner’s total tax bill is quite small, roughly 15%. The
vast majority of the property taxes collected go to the County, levies, and
Cincinnati Public Schools.

It has been the practice of Council in recent years to “rollback” the City’s
property tax rate to a level that essentially freezes the amount of taxes
collected by the City at about $28 million. In total this costs the City about
$2 million each year and saves the owner of a $100,000 home about $8. (this year
it is even less, $1.39) I believe, given the small benefit to property owners,
the City can better utilize the resources to leverage investment in our
neighborhoods and in the downtown business district.

In addition it tends to be the large property owners and businesses who benefit
most from the rollback. Since Council began the rollback policy the largest 34
property owners in Cincinnati have saved over $1.2 million. This is far more
than the few dollars it would save the average homeowner.

Given the recent rise in foreclosures I would be willing to look at a property tax rollback
program aimed at reducing the number of foreclosures in Cincinnati.