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Saturday, November 23, 2024

Hamilton County approves 30% property tax rebate for homeowners

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Carl Horst Chief Executive Officer at Cincinnati Area Board of REALTORS | LinkedIn

Carl Horst Chief Executive Officer at Cincinnati Area Board of REALTORS | LinkedIn

The REALTOR® Alliance of Greater Cincinnati (RAGC) has achieved a significant legislative success with the approval of a 30% property tax rebate for Hamilton County homeowners in 2025. This decision was made by Hamilton County Commission President Alicia Reece and Commissioner Stephanie Summerow Dumas during a meeting on November 21.

Tracy Dunne, President of RAGC, emphasized the importance of this rebate: “This rebate is vital for Hamilton County homeowners, especially in light of the unprecedented appraisal increases and the resulting extraordinary tax bills many will face next year.” Dunne expressed appreciation for county leaders' efforts to provide relief that would benefit seniors, veterans, single-income families, first-time homebuyers, and other vulnerable groups.

The rebate is linked to a sales tax increase from 1996 intended for constructing new stadiums on the riverfront. This marks only the fourth time such a full rebate has been approved, with previous instances occurring in 2012, 2017, and 2022.

Jason Kunkel from the RAGC Board of Directors highlighted the steady rise in property taxes due to increasing property values and economic indexes. He testified at the hearing supporting the full rebate: “We understand the county’s need to meet its lease obligations, but after that, the rebate should be a top priority.” Kunkel commended commissioners for fulfilling their long-standing commitment to providing necessary relief.

Maura Black from RAGC's Advocacy & Legislative Committee also supported this initiative during her testimony. She stated that “the full property tax rebate represents a unique opportunity to provide much-needed financial relief, stimulate the real estate market and stabilize communities.”

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