Citizens For A Better Norwood

Wednesday, August 30, 2006

Jeff Anderson's yo-yo property taxes - up, down, where next?

This past June the Cincinnati Enquirer reported the Hamilton County Board of Revisions gave developer Jeff Anderson a partial victory when he contested the county auditor’s $21.6 million assessment of the Rookwood Exchange properties. The panel “said the value should be whatever the properties would be worth if the residential neighborhood still existed.” That amount was likely to be $11 million, a far cry from $21.6 million.

Here's the story:

Our source at the Hamilton County Board of Revisions tells us the recent Supreme Court decision in the Norwood case rendered the panel’s June ruling null and void and that a new Board of Revisions hearing on Mr. Anderson’s case will have to be scheduled to determine a new assessment. The hearing date will be established in 7-10 days. Since Anderson cleared the land of all the improvements, is the property now worthless and close to the $3.2 million assessment he originally argued for? Or, with the Supreme Court injunction now lifted, will the value revert back closer to the sales price of $21.6 million?