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New Construction
All new construction is assessed as of the January 1 assessment date. Additionally, Stow has accepted Chapter 59 S. 2D that provides for a pro rata supplemental tax on new construction if the parcel value has increased by more than 50%, as of the occupancy permit date. A pro forma assessment may apply for the following fiscal year as well. In addition, taxes must be abated if a property loses more than 50% of its value due to fire or natural disaster.
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