Highland Heights may be looking at a 4% tax rate increase for the upcoming fiscal year.
The city held a public hearing Tuesday night to discuss the possibility of a 4% real property tax increase that would raise the rate from $1.42 to $1.47 per $1000 evaluation.
Property taxes are broken down into several categories. The first and usually largest chunk of your tax bill is real property tax, sometimes referred to as real estate property tax. This is essentially a tax on everything you own that’s nailed down. For residents, this means houses and other real estate property. For businesses, this means office buildings and other buildings and facilities used to conduct business.
Tangible personal property, on the other hand, is another form of property that isn’t real estate. Depending on where you live, residents may not be taxed on personal property at all–this will vary by jurisdiction.
Depending on where you live, other tax-adjacent fees may apply.
How do property taxes work?
The city will officially decide whether or not to pursue the tax increase at the next city council meeting later this month.Â
Mayor Greg Meyers explained that these taxes paid by city residents help the city maintain infrastructure and services like the police department.Â
“We offer a lot of services for our community—I think they are getting thousands of dollars in services. Great parks, professional police department and more,” Meyers said.Â
If the ordinance passes next month, city residents will see the increase reflected in the tax bill owed this upcoming fall.