Do you own real property in Perrysburg? In Wood County?

Then send a thank you note to the solons in Lucas County. Because in the real world, when transfer costs and holding costs increase, the value of an asset . . . DECREASES.

And in Lucas County both have happened.

And their actions up in Lucas County make Wood County and Perrysburg real estate MORE VALUABLE by direct comparison.

Recently the geniuses in Toledo increased the transfer tax due when a property sells. It’s paid by the seller and they upped it by 33%.

Smart. That $800,000 in planned revenue? It will cost them a couple of million in lost value of property sold.

Then Lucas County went and sold their outstanding tax liens to a New Jersey company. For cash. On the barrel head.

The plan was something like this: You give us cash. We give you the liens. You talk to the people who used to owe us money.

The REALITY was this: We give you cash. You give us liens. We immediately file foreclosures on EVERYONE who has a tax lien. Of any amount. Today. And we are going to pile on with attorney costs

Brilliant!

What a way to treat your citizens.

A New Jersey firm? Maybe the lawyers are from Cicero Illinois.

ALL of this activity makes owning real estate harder, more painful, and more expensive.

In Lucas County.

The real property owners of Perrysburg and Wood County will benefit.

I estimate you just made $1000 per property.

Thanks Lucas County