Hamilton County homeowners to get full 30 percent property tax rebate
CINCINNATI (WXIX) - The resolution to give Hamilton County homeowners the full 30% property tax rebate back for next year has been approved.
For two weeks, Hamilton County Commissioner Alicia Reece has been trying to come up with a way to make sure taxpayers will get their promised 30% tax rebate for the calendar year 2022.
This comes after the county administrator recommended on Nov. 17 to only give property owners a 10% rebate.
So why not the full amount promised back in 1996?
The county has been worried in years past it could not make the stadium lease payments and would need to dip into the general fund to pull it off.
Hamilton County says the stadium fund came close to insolvency during the great recession as sales tax growth did not meet projections.
A closer look shows property owners in Hamilton County have only gotten the full rebate twice in the last decade.
Now, they will get it for the third time.
The Administration reported tax revenues are up as well as the reserve fund and Hamilton County is projected to collect $91.1 million in sales tax revenue for 2021, representing an increase of 8% from 2020.
According to the resolution, $26,258,000, or 30% of the proceeds from the one-half percent sales tax, is to be used for property tax reductions from the 2021 tax year to provide a rebate for homeowners.
“People need help right now,” Hamilton County Commissioner Alicia Reece said. “Bills are due right now. [...] We want to be responsible, but we also want to be accountable to the taxpayers.”
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