Property Reappraisals and City Taxes

How will the 2023 reappraisal of my property value affect my property taxes?

The correlation between property value and tax is not a one-to-one ratio. For example, a 50% increase in property values does not equate to a 50% increase in property taxes. Approximately 90% of the City of Beavercreek’s property taxes are fixed levies, meaning city levies do not generate additional revenue as a result of rising property reappraisals. The inside millage component, which accounts for the remaining 10% of property taxes, is directly impacted from reappraisals.   

Instead, the tax rate for city’s fixed levies will be adjusted downward to maintain current revenue levels. While most property values may have increased, residents’ property taxes for fixed levies could either increase or decrease to ensure that the city's revenue collection remains the same. 

The Greene County Auditor states, "The effective tax rate for levies approved in the November 2023 election will be adjusted so that the levy generates the estimated amount of revenue. This means that the 2023 reappraisal valuation increases will lead to a reduction in the tax rate. It does not imply that the levy will generate more revenue and, as a result, cost taxpayers more due to the valuation increase.” Click here to read more about real estate taxes in Ohio from the Greene County Auditor. 

What does this mean for the proposed parks levy? 

The proposed 1.93 mills park levy on the November 7, 2023 ballot is estimated to generate approximately $3.2 million annually, as certified by the county auditor using the 2022 appraised values.  

The voted millage rate for the park levy is 1.93 mills; however, after property reappraisals, the estimated effective millage for the park levy will be adjusted downward to an estimated 1.51 mills to reflect the new reappraised valuations. This is an estimate since the figures have not been finalized due to the ongoing property appraisal appeal process. 

According to the Greene County Auditor, the average increase in residential property values citywide following the 2023 property reappraisals is 27.5%. Regarding the city's fixed levies, residential property owners whose reappraisals fall below this average will experience a slight decrease from the $68 per $100,000 valuation. Conversely, residential property owners whose values have increased by more than 27.5% will likely see a slight increase in property taxes over the $68 per $100,000 valuation. The same principle applies to the other fixed levies currently in effect within the city. This is because approximately 90% of the City of Beavercreek's property taxes consist of fixed levies so the city’s levies do not generate additional revenue as a result of increasing property values after reappraisals.

Click here to download and open an excel file to calculate your property’s estimated tax liability for the park levy based on the effects of the 2023 reappraisal process.

If you have questions or would like additional information, contact the city's finance department by calling (937) 427-5511 or email kucera@beavercreekohio.gov.