Last month WYSO reported that an Illinois-based hedge fund had purchased about one in eleven homes in the town of Huber Heights. The company made national news by asking Montgomery County to reduce its property taxes by over a million dollars. Now the results are in—and they weren’t as hard on the local budget as expected.
A story in Bloomberg earlier this week found that hedge fund Magnetar has bought up a significant chunk of the rental stock in Montgomery County’s Huber Heights—and then requested a major reduction in those properties’ values. That reduction, if approved, could affect the city’s taxes and levies.
The Ohio Department of Education notified the Fairborn City School District yesterday that it will be placed in "a state of fiscal caution" next week and the Huber Heights City School District is also facing a similar designation. It would mean that the districts would borrow money from the state for operations which would need to be repaid.