wtf? is a series of posts dedicated to holding a spotlight on the mysterious and un-explainable decisions of the Hamilton County Board of Revision. But attentive readers might well ask themselves, “Is that woman just focusing attention on the titillating examples?” How do we determine the difference between a few rotten apples and a chronic problem that needs to be fixed ASAP?
Let’s take a walk down east 4th St. and study the official numbers from the Hamilton County Auditor’s site. We included everything except 18 E. Fourth which has been converted to condos and is abated and the new Renaissance Hotel a little further up the street, also abated. For both of these we need more information from the Auditor as they involve multiple owners in a single building (Bartlett Buildings was office condos before it became a hotel)
Notice my use of the term “we”. This is not my work, but that of another citizen who wants to help and prefers to remain anonymous. However I don’t think he would mind if I shared two pertinent facts.
1. Our anonymous volunteer has not just one, but 2 Bachelor’s degrees from an accredited university: A degree in sociology AND a degree in political science.
2. He is familiar with the basics of excel spreadsheets and is not afraid to use them.
Here are the conclusions reached by Anonymous, followed by his pretty blue charts:
As has been the case, we see land value per acre decrease 20% on average from 1996 to today. If you can find somebody to logically explain why land values in a stretch of the central business district of a thriving city have decreased from $6.1M per acre to $4.8M per acre I would be impressed.
Furthermore, the total value of these properties has decreased by an average of 25% from 1996 and 18% from the most recent recorded valuation. What that tells me is that the valuation decline is a more recent phenomenon (which we already knew).
(Click on either table for larger size and greater clarity.)