Columbus realtors debate Thaw The Freeze proposal

Columbus realtors debate Thaw The Freeze proposal

Debates over the so-called "Thaw The Freeze" proposal, which is on the ballot this November, heated up again Monday afternoon as a group of realtors discussed the possible impact on the Columbus housing market.

The Thaw The Freeze proposal would change the property taxing system in the Fountain City, locking in rates for those who already pay fixed property taxes and setting new standards based on home-value for others.

At Monday's gathering of members of the Columbus Board of Realtors, Mayor Teresa Tomlinson explained what the next tax system would look like, should it get approved.

Tomlinson says those who wish to keep their property tax rates frozen can, as long as they maintain ownership of their home and no major construction is added.  Everyone else will pay taxes based on their homes' value, which would create an equal and free market, according to Columbus' mayor.

However, not all in attendance are on board. Some realtors questioned if the proposal would be constitutional, while others wanted to make sure the freeze would stay for those interested in keeping it.

One woman in attendance questioned how it would be fair to allow a tax freeze for some while making others adopt a new system.

"We have to have a market, we have to have a tax foundation that allows our city to grow and allows for the housing option and flexibility that citizens in today's world needs," said Tomlinson.

If the Thaw The Freeze passes, the proposal will assess the home's value, which could help homeowners who made a poor investment in a neighborhood that has depreciated in value over the years, according to some realtors.

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