Property tax spike foreshadows foreclosure, eviction crisis | Opinion
Property tax increases of over 10% in Hamilton County − while doubling and tripling for some homeowners − is not just a concern but also a looming foreclosure and eviction crisis without any further action. Many residents say they don’t know how they will make ends meet given the unexpected surge. Recently, I called for the creation of a task force to quickly develop recommendations to provide much-needed financial relief in Cincinnati.
The promise of the American Dream is anchored in the opportunity to own one’s home and build wealth in it for oneself and for one’s family. Homeownership is the cornerstone of a strong community. However, the current spike in taxes is forcing many of our fellow residents − particularly those on fixed or limited income − to face choices they never thought they would have to consider, while renters face the looming threat of eviction as those increases get passed on to them.
The city of Cincinnati cannot resolve this crisis by itself. The only systemic solution to this crisis is through the Ohio Legislature and the governor, but after months of vocal concern, nothing has been passed to address this issue at the state level. As a city, we can either wait for them to act, or we can do everything in our power to provide much needed relief for our residents.
The proposed task force has a short window of opportunity to act. The mission will be to develop short-, medium-, and long-term recommendations for providing relief. Based on the Ohio Supreme Court decision Schaad v Alder that ruled 5-2 to allow cities to collect income tax from non-resident individuals working remotely, the city of Cincinnati could leverage some of the $50 million that was set aside in the event that they ruled otherwise. The task force will look at short-term solutions, such as a cash infusion to help affected residents, but also explore more creative, longer-term solutions to help homeowners lower expenses or increase income from their house. These could include incentives to make homes more energy efficient to reduce expenses or to convert a portion of their house into an accessory dwelling unit to earn extra income.
The first job of the task force would be to set principles around the relief. That means defining the parameters of who gets relief, including the 62% of our city that rents. The task force will leverage expertise from organizations such as Community Action Agency, LISC, Housing Opportunities Made Equal, Legal Aid, the Urban League, the Greater Cincinnati Apartments Association, the city of Cincinnati, the Realists, the Hamilton County Auditor and Treasurer and affected residents.
Hope is not a strategy. Hoping that the state of Ohio acts to address this issue is not a strategy. With the lack of action from the state, we need to do what we can in the city of Cincinnati to address this crisis. Without relief, we will be facing not only additional drain on social services but a tsunami of displaced residents in our communities. The time to act is now.
Cincinnati Councilman Mark Jeffreys serves as vice chair of the Climate, Environment, Infrastructure Committee.
This article originally appeared on Cincinnati Enquirer: Property tax spike foreshadows foreclosure, eviction crisis | Opinion
