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PRESS RELEASE October 2, 2008 Contact Roger Reynolds @ 887-3131

BUTLER COUNTY AUDITOR REYNOLDS TAKES UNPRECEDENTED STEPTO AID HOMEOWNERS; WILL REDUCE PROPERTY VALUATION FOR TAX

PURPOSES IN 2009 Reynolds has Authority to Respond to Rapidly Declining Housing Market

(Hamilton, Ohio) Butler County Auditor Roger Reynolds has announced that he is takingthe bold and unprecedented step on behalf of taxpayers to lower property valuations in2009.

Reynolds has made several requests upon the State Tax Commissioner for an extension of the 2008 property reappraisal. The extension would allow time for the market to stabilize.Reynolds has been consistently told no. Therefore, Reynolds is taking the matter into his

own hands on behalf of county property owners.The state bureaucracy may not understand how this housing market affects everyday

people, but I do. Reynolds said. At the ground level, we see and feel this crisis. In2009, I have the authority to lower values, and I will.

Currently, the state controls what auditors do in adjusting values every three years.Generally, auditors wait to set values during those mandated adjustment times.

I have seen the reductions in sale prices in 2008 and I am going to lower values in2009, states Reynolds. Now is the time for bold leadership and decisive action tocombat this crisis in the housing market. This year, I was handcuffed by the state. I refuse

to wait another three years to do what is right for the people of Butler County.Reynolds was appointed in April of this year, after the reappraisal work was mostlycompleted. Reynolds has hosted 8 town hall meetings over the past month and has 4 morescheduled over the next few days throughout the county. He has been working diligentlyon the reappraisal issue since taking office.

The state controls every three years what we do, but I dont need state approval in2009. Reynolds said. It is not standard procedure, but these are not standard times.Most people have not seen such economic instability in their lifetimes. I can get valuesdown in 2009 based on 2008 sales, which the state did not allow us to consider in our current reappraisal. As a result of the continued housing drop, I will lower values in 2009.

Reynolds is also reviewing the 2008 valuation process conducted by the appraisal firmused for the reappraisal. The firm was hired by Reynolds predecessor, and the reappraisalwas virtually completed by the time Reynolds took office in April.

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