City’s Property Values to See Small Increase for 2012

The city’s property values are expected to be up a bit next year, the first increase in five years. 

Finance Director Virginia Price presented the 2012 estimates to . Council then approved a resolution accepting the amounts and rates and authorizing the necessary tax levies. 

The estimated 2012 assessed values for all personal and corporate property in Brecksville is $596,799,104 – an increase of about .89 percent. That’s not a lot, but it does mark the first increase in values since 2007, according to information from the city. The city reached its highest valuation that year. 

The estimates are provided by the county, Price said.  

Price said this small increase won’t affect the city, though, because the tax collection percentage is down just a bit. Normally, the city’s collection rate is around 98 percent. It’s currently about 97 percent, she said. 

Price said in an email that the city is expecting to collect $4,737,050 in property taxes for 2012.