Posted on: September 18, 2018
Auditor's Office to release more than $1 million to local authorities
Clark County Auditor John S. Federer recently authorized a release of more than $1 million from the Auditor’s “Real Estate Assessment (REA) Fund” to the various taxing authorities within Clark County.
Federer authorized a similar release of funds in 2014 and is once again authorizing the release of funds in 2018. Federer is very pleased to be able to approve these funds twice in his tenure as Clark County’s Auditor.
The REA Fund is a special restricted fund maintained on the Auditor’s books to help defray the expenses associated with the appraisal of properties and the related assessment of taxes. The REA account receives its funding by deducting a small percentage, per the Ohio Revised Code, of property taxes from settlements to local schools, townships, municipalities, ambulance districts, etc.
In all, 35 taxing entities will receive funds. The amount to be received by each entity was calculated on a pro-rata basis based upon the amount of taxes collected on behalf of each taxing authority for the collection years of 2015 through 2017.
In a letter to the leaders of the various taxing authorities, Federer thanked those entities for their cooperation over the years with the Auditor’s Office, and also the employees of the Auditor’s Office for their unfailing and ongoing efforts to keep costs under control. The efficiencies played a large part in making this release of funds possible, Federer said.
“The Auditor’s Office has continued to research and adopt best practices and technologies that have yielded cost saving measures," Federer said. "I’m proud of the accomplishments in this office over the last seven plus years."