Earlier this month, the US Congress voted to repeal certain new 1099 reporting requirements that had many smaller landlords in this country crying foul. In essence, expanded 1099 reporting requirements were to take place under the health care reform laws in an effort to raise underreported income. The net effect would have been to
Environmental Check-Up
When it comes to taking care of our own health, all too often we rely upon reactive maintenance. For example, you ignore your doctor’s warnings and continue to eat fast food and fail to exercise on a semi-regular basis. You had the chance to help control the situation with some basic preventive maintenance, but you
Fact Check: Is Your Property Correctly Valued?
Many counties in Ohio, Hamilton and Franklin included, have just completed their triennial valuation of real property. In this day and age of falling real estate values and 401(k) balances, saving money is on everyone’s mind. That makes today a good day to review the Auditor’s new value of your property and ask yourself, “Am I paying taxes based upon my property’s correct value?”
Many factors influence property values, and the Auditor’s appraisers, despite their best efforts, are all too often not privy to all the information. The burden therefore falls on the shoulders of the property owner to provide additional information to the Auditor when necessary. In order to do this, a properly completed Complaint Against the Valuation of Real Property form (see links for Hamilton County, Franklin County, and Cuyahoga County forms) must be filed with the Auditor’s office on or before March 31st of the following tax year. This means if you are filing by March 31st of this year, you are actually challenging the valuation of your property as of January 1, 2008. And each county typically has its own set of procedural rules for filing a complaint, so be sure to familiarize yourself with the correct process to avoid dismissal of your case.
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Who Knew Being Green Could Be So Easy !
Recently at the January monthly Real Estate Roundtable breakfast sponsored by the University of Cincinnati, I was introduced to a fascinating new concept – the Roof Lease. Featured speaker Mike Phillips, President of Cincinnati based national real estate developer Phillips Edison Company, mentioned that Roof Leases are starting to spring up across the country. The basic