Real Estate Blog

In 1972, the average home price in the United States was approximately $30,000. Fifty years later, that number broke $500,000, an increase that is, no doubt, aggravated by a 4.5 million-unit deficit in supply. State and local governments have largely failed to respond and continue erecting regulatory barriers to new residential construction. But, in 2023 the Ohio General Assembly adopted a new tax abatement program that combats the shortage with an incentive for more housing development.

Ohio law empowers real property owners, acting collectively, to petition their local board of county commissioners to annex real property out of a township and into a municipality. If the subject property is less than 500 acres, shares at least 5% of its border with the annexing municipality, and does not contain an “island” of property that would remain within the township’s jurisdiction, the board of commissioners may not reject the annexation.