Warren County Ohio Real Estate News and Observations

"I Can't Spend Property Value" Said the School Levy Opponent

Little Miami Schools"I Can't Spend Property Value" Said the School Levy Opponent

For those who have been following our blog, you know we've got particular interest in the Little Miami School district tax levy.  We've done multiple posts on the topic, and were even contacted by Dan Sewell, an Associated Press reporter writing an article for Cincy magazine on the topic.

Yesterday we got the October issue of Cincy magazine with the article "Ninth Time the Charm?" on the topic.  For the first time, we've been quoted by the media thanks to our blog posts! :)  Two small paragraphs pertaining to the fact that Little Miami School District residential property value has dropped 10% in the last year and we're hopeful that this November 8th election will be the one that FINALLY passes the levy after EIGHT consecutive rejections.

But a quote by one of the tax levy opponents caught our attention.  Dan quotes a local resident as stating "Explain to me how I can spend that increase in my property value?"

We're not going to take a neutral stance on this one.  So if you're a staunch anti-tax advocate, you might not care for what comes next, but we hope you stick around to understand where we're coming from.

While true that you can't take your property value down to Best Buy and pick up a 55" flat screen, taking the viewpoint of property value being irrelevant if you don't plan to sell soon just might be similar to the old parable about the grasshopper and the ants.

Morrow patio home for sale in Ivy Glenn at WedgwoodSooner or later, EVERY home will be sold!  Personal circumstances often change radically and with little notice.  While we don't personally plan to sell our home for at least seven years, we know LIFE is subject to change.  If suddenly some corporation put up a big factory next to us on our country road, clearing the beautiful woods around us and removing our privacy, we'd probably be looking to find a new home. 

 

Not to be morbid, but mix in health changes, divorce, job loss....we're all just a few breaths away from major life decisions.

Now if you're a hermit with no descendants to inherit your home, you truly may be able to not care what happens to your property value or anyone else's.  However, for the remaining 99.999% of us, what happens to our neighbors does influence us.  The continued school levy rejections has contributed to the loss of Little Miami School District property value. 

If you live on a five acre plot in the country, the impact may be less apparent to you.  But take a drive through a subdivision and what do you find?  For sSale sign after For Sale sign.  People are trapped in their homes because they can't get what they need to even get close to a break even sale price.  So what's next?  Maybe a short sale if they're "lucky".  Their credit takes a hit for years and the neighborhood property values slip a bit further. 

And if they don't get short sale?  Foreclosure is usually the next step.  A family gone, a home empty.  Those damned bank stickers on the window and the property condition degrading.  No one lives there....it's prime for vandalism, a general eyesore, storm damage....water leaks and mold, and the property value falls even further, and if the condition gets bad enough, even an investor won't touch it.

ElectionsWe've seen neighborhoods suffer this blight, and it is like a row of dominoes.  The blight spreads and it becomes a vicious cycle.  Fewer homeowners mean fewer people carrying the HOA fee burdens, or bigger picture, fewer homeowners to support all the community public functions. 

So who takes the hit?  What are you willing to sacrifice?  Community services? Road maintenance? Fire protection?  Fewer police?  The schools?  And don't give me the argument that you don't have kids in the schools so you don't give a bleep.  We believe we all have social obligations to look beyond our own self-interest when we've got the means to help.

Whether you see it or not, the declining property values DO impact you in ways you might not perceive.  Community festivals cancelled.  School activities like plays and art gone.  Some kid that MIGHT have become some athletic superstar doesn't get to play because his family can't afford the $651 participation fee.

We aren't even Little Miami residents and it impacts us.  You think it's easy to sell a home in your school district right now without the seller "giving it away"?  Families are hostages to their homes, and it's NOT because they exercised bad judgment in their purchase.

So you can make your choice, just continue to say NO because you don't perceive the school district as having made enough cuts (apparently 100 jobs and $10 million in budget cuts wasn't enough), or because you don't think it impacts you....but it does.

We're hoping enough voters select the Yes button to get the Little Miami school district levy passed and the foundation for a recovery laid. 

And if you think we're advocating Yes because we don't live in your school district and it's not our money?  We'll be voting Yes for the Lebanon school tax levy increase November 8th.  To us, this has NOTHING to do with political party affiliations and everything about what's best for the community.  And by the way, we DON'T have any kids in the schools.  We'll walk the talk.

Serving Warren County's residential real estate needs,

Liz and Bill aka BLiz

REALTORS(S) Serving Warren County Ohio & Adjacent Areas

The Liz Spear Team of RE/MAX Elite
Elizabeth & William Spear
Ask for us by name if you visit the office!

EHO Two locations: Lebanon & Mason, OH
Liz direct:  513-265-3004
Bill direct: 513-520-5305     
Fax: 866-302-8418

MailTo:  LizSpear@Go-Concepts.com

Our Website:  www.LizTour.com

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21 commentsLiz and Bill Spear • October 05 2011 09:13AM
"I Can't Spend Property Value" Said the School Levy Opponent
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"I Can't Spend Property Value" Said the School Levy Opponent For those who have been following our blog, you know we've got particular interest in the Little Miami School district tax levy. We've done multiple posts on the topic, and were even… more