This year, Warren  County, Ohio did its housing reassessment for the first time in three years.  They used recent sales prices to determine the value of properties. The results of their study of values revealed a drop of an average of 11%. Warren County

Officials feel that setting a realistic value for properties is important even though this will affect the counties ability to generate funding. The decrease in value will not cause a corresponding decrease in taxes paid.  The funding formulas are complex and designed to give schools and special levies virtually the same dollar revenue. However, as a result, the county has made efforts to reduce spending by at least 5%.