The 13abc I-team is staying on top of the big property value drop in Lucas County. We've now learned the impact it's going to have on the City of Toledo as a whole.
The newest numbers show that properly values overall in the county dropped 13% percent. This new report given to the Toledo city council Thursday says that residential values in the city went down 18% and with commercial properties factored in the loss for the city is just about 14%. That means the City will lose money.
Each property value loss in the city of Toledo is adding up to an estimated loss of $1.9 million to the city next year.
"The City of Toledo has the biggest population and has had the highest foreclosure rate compared to other counties and cities in the area so that's going to have an impact," said Lucas County Auditor Anita Lopez.
Council members got the dollar amount Thursday based on homes sales from 2009, 2010, and 2011.
"We faced a touch economic time and those sales reflect it," said Lopez.
"We believe we can provide a balanced budget for 2013 and maintain the same level of service," Toledo Deputy Mayor Steve Herwat added.
Toledo leaders were expecting this bad news, but do have some good to share with people.
New tax figures released Thursday say that overall tax receipts are up 4.3% from this time last year, meaning an increase of almost $3 million. Businesses saw the biggest jump. Those tax revenues are up almost 25% percent to the tune of $2.3 million.
"I don't see any major cuts because again we have been aware of the fact that property values have changed dramatically and gone down," said Toledo city councilman George Sarantou.
The other saving grace for the city so far is the casino. The city is anticipating just over $3.5 million dollars this year from the casino.
Thursday, May 23 2013 12:47 PM EDT2013-05-23 16:47:37 GMT
Source: TPS website
Police have arrested five teens, including four Bowsher High School Students, for a senior prank that went awry. Court documents say the five were caught on surveillance camera throwing paint, birdseed,
Police have arrested five teens, including four Bowsher High School Students, for a senior prank that went awry.
Thursday, May 23 2013 9:46 AM EDT2013-05-23 13:46:40 GMT
The month of May will likely end up in the top 10 list for the driest May's on record. Despite the dry month it does not look like we are headed for a repeat performance of last year's drought and extreme
The summer forecast calls for above average rainfall for most of the Great Lakes region with near average temperatures.
Thursday, May 23 2013 7:54 AM EDT2013-05-23 11:54:56 GMT
Toledo police shot and killed a man with a gun early Thursday morning. Police say officers were patrolling in the 1000 block of Page Street around 12:30 when they saw a man pointing a gun at a woman.
Toledo police shot and killed a man with a gun early Thursday morning.
Thursday, May 23 2013 7:20 AM EDT2013-05-23 11:20:31 GMT
If you're in Archbold and you hear the sound of 100 harps, you're not just hearing things. The 6th annual Harp Gathering is underway May 16-19th.Denise Grupp-Verbon co-founded the festival with her husband.
If you're in Archbold and you hear the sound of 100 harps, you're not just hearing things. The 6th annual Harp Gathering is underway May 16-19th.Denise Grupp-Verbon co-founded the festival with her husband.
Thursday, May 23 2013 5:07 AM EDT2013-05-23 09:07:37 GMT
The picture has been shared over 23,000 times on Facebook. It shows a note pinned to a car. In the note, Facebook user, Jeremy Jon, explains that he took the car owners dog to the Bowling Green Police
Police say viral photo on Facebook is a hoax. Man claimed to save a dog and then posted it on the social network to impress a girl.
Thursday, May 23 2013 7:54 AM EDT2013-05-23 11:54:56 GMT
Toledo police shot and killed a man with a gun early Thursday morning. Police say officers were patrolling in the 1000 block of Page Street around 12:30 when they saw a man pointing a gun at a woman.
Toledo police shot and killed a man with a gun early Thursday morning.
Wednesday, May 22 2013 11:12 PM EDT2013-05-23 03:12:46 GMT
We often report stories on the Ohio State Highway Patrol's K-9 unit. The dogs help Troopers find huge quantities of illegal drugs in our region every year. But between the big hits is a lot of hard work,
Ride along as an elite group of four legged crime fighters and their handlers take drugs off Northwest Ohio roads.
Thursday, May 23 2013 12:47 PM EDT2013-05-23 16:47:37 GMT
Source: TPS website
Police have arrested five teens, including four Bowsher High School Students, for a senior prank that went awry. Court documents say the five were caught on surveillance camera throwing paint, birdseed,
Police have arrested five teens, including four Bowsher High School Students, for a senior prank that went awry.
Thursday, May 23 2013 9:46 AM EDT2013-05-23 13:46:40 GMT
The month of May will likely end up in the top 10 list for the driest May's on record. Despite the dry month it does not look like we are headed for a repeat performance of last year's drought and extreme
The summer forecast calls for above average rainfall for most of the Great Lakes region with near average temperatures.
Thursday, May 23 2013 7:20 AM EDT2013-05-23 11:20:31 GMT
If you're in Archbold and you hear the sound of 100 harps, you're not just hearing things. The 6th annual Harp Gathering is underway May 16-19th.Denise Grupp-Verbon co-founded the festival with her husband.
If you're in Archbold and you hear the sound of 100 harps, you're not just hearing things. The 6th annual Harp Gathering is underway May 16-19th.Denise Grupp-Verbon co-founded the festival with her husband.
Thursday, May 23 2013 5:07 AM EDT2013-05-23 09:07:37 GMT
The picture has been shared over 23,000 times on Facebook. It shows a note pinned to a car. In the note, Facebook user, Jeremy Jon, explains that he took the car owners dog to the Bowling Green Police
Police say viral photo on Facebook is a hoax. Man claimed to save a dog and then posted it on the social network to impress a girl.
Wednesday, May 22 2013 11:32 PM EDT2013-05-23 03:32:13 GMT
Some of Rossford's oldest school buildings need major repairs. District leaders now have five potential renovation plans, but they're looking for voter input before they move forward.
Some of Rossford's oldest school buildings need major repairs. District leaders now have five potential renovation plans, but they're looking for voter input before they move forward.
Wednesday, May 22 2013 11:07 PM EDT2013-05-23 03:07:04 GMT
Kassy Widman is a Woodmore High School graduate. She's been living in Moore, Oklahoma for several years with her kids and husband. Monday her world was turned upside down after an EF 5 tornado nearly
A Woodmore High School graduate loses everything in the Moore, Oklahoma tornado. Her sister tells 13abc, her twin nephews were among the survivors at Plaza Towers Elementary school where 7 children died.
Wednesday, May 22 2013 10:18 PM EDT2013-05-23 02:18:14 GMT
Sylvania Township Police are investigating a Missing Person case. 25-year-old Jennifer Webster was last seen Monday in Sylvania Township.Jennifer is 5'1", 150 lbs., with brown hair and blue eyes. She was
Sylvania Township say a 25-year-old woman was was reported missing by her mother has been found.
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