2 On Assignment: Property tax ruling hurts local schools

KETTERING, MORAINE, Ohio (WDTN) - 2 NEWS On Assignment has learned that two school districts, Kettering and West Carrollton, stand to lose significant revenue if they don't appeal a recent decision by a Montgomery County tax board.

On October 16 of this year the Board of Revision held a hearing because there was a major dispute between IRG Moraine and the school districts over the value of the Moraine property where General Motors once thrived.

Industrial Realty Group argued the property value which is used to determine what taxes are owed should be based on what it paid for the property.  IRG paid a little more than $6 million.  Last year Montgomery County assessed the property at more than $27 million.

The Board of Revision did set new values.  There are seven parcels that make up the former GM site in Moraine.  To give you an example of the loss, just one parcel dropped from a value of $12,527,930 to $2,884,860.

All of the parties were sent certified letters like the one we photographed for you.  Each has the opportunity to appeal the decision either to the State Board of Tax Appeals or to the Montgomery County Court of Common Pleas.

Pam Elliot is working to get comments from IRG and the school districts.  She will bring you the latest on 2 NEWS at 5:30.