Printer Friendly

NEW CONSTRUCTION ADDS $685 MILLION TO CUYAHOGA COUNTY'S TAX DUPLICATE; TOTAL REAL PROPERTY VALUES INCREASE TO $48.3 BILLION

 Strongsville, Westlake Hot Spots For Residential Construction
 CLEVELAND, Nov. 22 /PRNewswire/ -- More than $685 million in new construction projects were undertaken during 1992, Cuyahoga County Auditor Tim McCormack today reported to other county officials.
 This increase is responsible for the county's tax duplicate jumping to $48.3 billion, McCormack said.
 "The dollar amount of new construction was very significant," McCormack said. "New construction helps keep down property taxes."
 McCormack reported that more than $376 million in new residential construction was started during the past year.
 Cities showing the greatest amount of new residential construction were Strongsville, $53 million; Westlake, $47.6 million; North Royalton, $41.5 million; Solon, $32.9 million; Broadview Heights, $25.1 million; and Highland Heights, $23.2 million.
 New industrial construction accounted for $87.1 million in new development, McCormack reported.
 The city of Brooklyn with the new Plain Dealer printing and distribution center accounted for almost half of the total new industrial construction within the county.
 There also was a lot of activity in the area of new commercial construction. McCormack said $222.2 million in new commercial construction ventures were undertaken last year.
 Among cities showing the greatest volume in commercial construction were: Cleveland, $89.3 million; Westlake, $16 million; North Olmsted, $14.3 million; and Bedford, $11.9 million.
 Final market values for all property classes in Cuyahoga County were: Residential, $32.8 billion; Commercial, $12.3 billion; Industrial, $3.2 billion; and Agricultural, $4.6 million.
 -0- 11/22/93
 /CONTACT: Tim McCormack, Cuyahoga County Auditor, 216-443-7010/


CO: Cuyahoga County Auditor ST: Ohio IN: SU:

AR-BM -- CL016 -- 6950 11/22/93 16:20 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 22, 1993
Words:272
Previous Article:K-III ACQUIRES NELSON PUBLICATIONS; LEADING PROVIDER OF SPECIALIZED INFORMATION FOR INVESTMENT COMMUNITY
Next Article:NEW STUDY SHOWS PATIENTS VALUE MANAGED MENTAL HEALTH CARE MODEL

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters