Serving our Seniors Magazine January - March 2025

Real estate values have been updated in 2024. As a result, tax bills in January 2025 are highly likely to be larger. At Serving Our Seniors forum on Nov. 15, 2024, Erie County Treasurer, Caleb Stidham, did a remarkable job explaining how real estate taxes are calculated. The calculation is complicated and requires more space than can be dedicated. Below, are important take-aways worth reading: • Not everyone who lives in Erie County is pays the same. Depending on where you live, in Erie County, some taxing districts are less expensive than others. • Real estate owners are not taxed on the appraised value of their real estate. They are taxed on the “assessed” value of their real estate. • “Inside millage” requires the tax payer to pay more money when the assessed value of their real estate increases. Examples of inside millage are: The 10 mills the Ohio Constitution requires all real estate owners to pay, which are divided among the school districts you reside in; the political subdivisions (city/village/ townships) and the county. There are certain levies for school districts that can mimic inside mills, with respect to being inflationary. • “Outside millage” does not require the taxpayer to pay more money, when the assessed value of the home increases. Examples of “Outside millage” are those levies, which fund Serving Our Seniors, Libraries, the Erie County Health Department, to name a few. • If you wish to dispute the taxes on your bill, as a taxpayer you have a right to a hearing before a Board of Revisions. This consists of the county treasurer, the county auditor and a county commissioner. • If you are age 65 or older with a gross household income of $38,600/year or less; or have permanent disability, or the spouse of a public servant who died in the line of duty you are eligible for the Homestead Tax Exemption. Apply with the Erie County Auditor’s office. This will reduce your real estate taxes. • Check with the Erie County Auditor’s office to see if you are receiving the Owner Occupancy Residential Tax Credit. If you have owned and lived in your home before 2013 you are eligible. • If you are concerned that the new real estate values will tax you out of your home, contact the Erie County Treasurer’s office. In addition to a “delinquent tax contract,” the Treasurer’s office can enter a taxpayer into a monthly payment plan. This can reduce the burden of paying a large sum two times per year. This will also prevent a 10% penalty from being added on to the real estate taxes owed, caused by not paying your taxes on time. Caleb has graciously agreed to partner, again, with Serving Our Seniors and explain to every community’s 60+ population, how real estate taxes are calculated based on where you live. Dates and locations are being arranged for February and March 2025. To be notified of the forum, based on where you live, call Serving Our Seniors reservation line at 419- 504-0585 . Tell us your name, address, and phone number. Inform us that you wish to be notified of the “Understanding My Real Estate Taxes” forum, to be held for the community where you live. Understanding Real Estate Taxes 19