Commissioners Approve Increase To Property Tax Rebate; Still Not Fully Funded
Hamilton County Commissioners have approved a slight increase in the property tax rebate (PTR) for next year, but they still aren't funding it in full.
The total amount will go up $1 million to $14 million, thanks to increased sales tax revenues.
That’s still less than the original promised amount of 30 percent of those revenues.
The PTR was created to offset the voter-approved half cent sales tax which pays for construction and upkeep of Great American Ball Park and Paul Brown Stadium.
For several years commissioners have approved partial PTR's because the sales tax hasn't been performing as expected. It was last fully funded in 2012 when Commissioners Todd Portune and Chris Monzel worked together on a deal to sell Drake Hospital.
Next year, many homeowners will get an additional $3.50 for every $100,000 of property value, or about $49.50 per every $100,000. That number will also vary based on your taxing district.