Franklin County Board of Commissioners issued the following update, "On Tuesday, the Franklin County Board of Commissioners unanimously approved a plan to invest approximately $65 million over the next ten years in affordable housing in central Ohio to create more than 2,000 new affordable housing units. The initial plan was created earlier this year at the commissioners’ request by the County Economic Development and Planning department as part of that agency’s new five-year strategic plan, and the vote comes after three public hearings on the matter. Funding for the initiative will be through the real estate conveyance fee, which the commissioners voted to increase by one dollar for every $1,000 in sale amounts.
The real estate conveyance fee is paid by people who are selling a property and includes a state-mandated amount of one dollar per $1,000 in the sales price. Franklin County charges an additional dollar, and that money already goes to affordable housing efforts.
Columbus REALTORS® remained neutral on the increase. President John Myers testified at a public hearing on Aug 13 saying, “Columbus REALTORS® is grateful to have been included in the conversations from the beginning. Although we don’t have a formal position on the conveyance fee increase, our membership fully recognizes we must be part of the housing affordability solution. Columbus REALTORS® Foundation recently made a $300,000 commitment to the South Side Renaissance which supported the rehabilitation of 45 single-family affordable homes along with another $40,000 donated this year alone to local non-profit housing organizations as a small part of our commitment to housing affordability.
Continuing to burden property owners with additional fees and costs, at all levels of governments, is something our organization and members takes seriously. We recognize raising fees is never easy and rarely popular, however nearly 14 years ago Columbus REALTORS® supported the additional dollar increase, as it went to support housing affordability, specifically the Affordable Housing Trust and Community Shelter Board. Any increase in the conveyance fee, on property owners, should again only be allocated to supporting housing affordability.
I want to reiterate our commitment to housing affordability, not only thru our continued community financial commitment but also by being a good community partner.”
The fee will affect all property transfers starting October 7, 2019.
The real estate conveyance fee is paid by people who are selling a property and includes a state-mandated amount of one dollar per $1,000 in the sales price. Franklin County charges an additional dollar, and that money already goes to affordable housing efforts.
Columbus REALTORS® remained neutral on the increase. President John Myers testified at a public hearing on Aug 13 saying, “Columbus REALTORS® is grateful to have been included in the conversations from the beginning. Although we don’t have a formal position on the conveyance fee increase, our membership fully recognizes we must be part of the housing affordability solution. Columbus REALTORS® Foundation recently made a $300,000 commitment to the South Side Renaissance which supported the rehabilitation of 45 single-family affordable homes along with another $40,000 donated this year alone to local non-profit housing organizations as a small part of our commitment to housing affordability.
Continuing to burden property owners with additional fees and costs, at all levels of governments, is something our organization and members takes seriously. We recognize raising fees is never easy and rarely popular, however nearly 14 years ago Columbus REALTORS® supported the additional dollar increase, as it went to support housing affordability, specifically the Affordable Housing Trust and Community Shelter Board. Any increase in the conveyance fee, on property owners, should again only be allocated to supporting housing affordability.
I want to reiterate our commitment to housing affordability, not only thru our continued community financial commitment but also by being a good community partner.”
The fee will affect all property transfers starting October 7, 2019.
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