The Village has just been advised by Cuyahoga County that their reappraisal of real property in the county is nearly complete. Specific notices of changes in valuation will be sent to the individual property owners, probably in late July or early August. If you do not agree with the county’s valuation, this notice of changes will set forth how you can appeal the proposed valuation.
Based upon what the county has told us the average residential property has increased in valuation by 10.1% and the commercial/industrial property by 4.2%. This does NOT mean your residential property taxes will be going up by 10.1% due to the millage roll back credit on residential property.
The current allocation of where your property tax dollars goes is as follows:
Chagrin Falls Schools: 65.5%
Cuyahoga County: 25.3%
Chagrin Falls Village: 8.8%
Chagrin Falls Township: 0.4%
These allocations are approximations based on the current valuation as we will not get the actual new numbers until likely October. I would like to specifically note that the Village share of your property tax will DECLINE to about 8% or just under a 10% decrease due to the bonds issued to fund Streetscape being fully retired this year.
If you have any question about this notice please contact David Bloom, the Village’s Finance Director, at 247-3158