Realtor friends, we are fiduciaries, and part of great fiduciary service is making sure that our clients are as informed as possible to make the best financial decisions. An important consideration for our clients is the tax implications of their purchase price. If you’re serving clients in Hamilton County, Ohio, you should be aware of the county’s valuable resource for projecting future tax payments: the Hamilton County Auditor’s tax tool.
And if you conduct business in other counties and the local auditor doesn’t have this tool – ask them for it! It’s incredibly helpful for clients to make smart decisions.
Computing real estate taxes can be a source of confusion and concern for buyers. Traditionally, we’ve relied on MLS listings or property reports to inform clients about tax obligations. However, these figures are based on current valuations, which are subject to change post-purchase. With properties being reassessed every three years, there’s a high probability that your client will experience a discrepancy between the tax amounts at the time of purchase and future tax obligations.
Recognizing this gap, the Hamilton County Auditor’s office offers a convenient tool for each property you view that allows you or your clients to predict their future tax obligations based on their purchase price. This tool is not only simple and intuitive, but it significantly increases transparency around the cost of homeownership for your clients.
Why This Matters
With property values appreciating steadily, the gap between the current taxed value and the actual market value can get pretty big, especially with the triennial reassessment of properties in Hamilton County. This gap could lead to an unexpected increase in monthly payments for your clients when they discover that their taxes have increased significantly after closing. By introducing your clients to this tool, you enable them to input a potential purchase price and receive an estimated future tax amount, empowering them to make decisions that align with their financial goals and constraints.
How to Use This Tool
Encouraging your clients to use the Hamilton County Auditor’s tax estimation tool demonstrates your competency in the business as well as your commitment to your clients’ best interests. Here’s how you can integrate this tool into your client consultations:
– During discussions about potential properties, introduce the tax tool as a key resource for budget planning;
– Offer a brief tutorial on how to access and use the tool, possibly incorporating this into your buyer’s presentation or sending them a link with instructions; and
– Emphasize the importance of considering future tax obligations in their overall assessment of a property’s affordability.
Empowering Clients for Better Decisions
By guiding your clients on how to utilize the Hamilton County Auditor’s tax tool, you not only enhance their ability to make informed purchasing decisions but also strengthen your role as their competent fiduciary.
Incorporating resources like the Hamilton County Auditor’s tax tool into your practice demonstrates a dedication to transparency and client empowerment. Our role as Realtors is not just to facilitate transactions but to ensure our clients are well-informed, prepared, and confident in their real estate decisions. By leveraging tools like the Hamilton County Auditor’s tax estimator, we can provide a more comprehensive, transparent, and empowering service.
