| Good afternoon, Lakeside Cottage owners have received notices of reappraisal from the Ottawa County Auditor. While it is no surprise 2024 is a reappraisal year, the reappraisals are catching cottage owners’ attention. Per Ohio law and Ohio Department of Taxation rules, the County Auditors reappraise real estate within their county every six years. The reappraisal is to determine the estimated fair market value of the property. Market value is defined as the price your property would likely sell for in the market. Per their leases with The Lakeside Association, cottage owners are responsible for paying property taxes. The party responsible for paying the property tax does not pay tax on the appraised value, but rather on the assessed value. The assessed value is 35% of the appraised value. The assessed value multiplied by the tax rate produces the tax due. Property taxes are assessed in arrears. When a property tax bill arrives, it is for the prior year or a half-year of the prior year. This means cottage owners have little time to prepare for the increase in property taxes. If a cottage owner disagrees with the reappraisal, the cottage owner may file a complaint with the Ottawa County Board of Revision. The local school district will be the opposing party. Through this Friday, September 20, cottage owners can visit the table set up on the second floor of the Ottawa County Court House or call 419-734-6721 to speak with an appraiser. This informal alternative to filing a Board of Revision complaint ends this Friday. The Lakeside Association does not receive any portion of the property taxes assessed by Ottawa County. The Lakeside Association will adjust its assessment for sanitary purposes and improvements of streets based on the 2024 reappraisal. Lakeside’s March 2025 assessment invoice will be the first to use the new appraisals. At present, the base assessment and the special assessment will remain unchanged. Once Lakeside has received bids for the streets project, which are expected early next year, and has actual reappraisal values in hand from Ottawa County, management will analyze the impact of the increase. If management believes an adjustment to the special assessment is warranted, management will make a recommendation to The Lakeside Association Board of Directors. I assure you that I am sensitive to the situation, and I am monitoring it closely. Charles Allen, Lakeside Association CEO & President |
Lakeside Chautauqua Ohio
Website Design ©2024
Website Design ©2024