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The primary cause was rapidly increasing land values and "unchecked zoning" along the project's projected right-of-way along with geo-technical problems with rocky soil. [17] Property values along the projected route, for instance, increased 91.5% from 1992 to 2001 alone.
The land was originally part of a large tract owned by a single family, but in 1902, 75 of those acres were sold to the Columbus Zoological Company. The company established one of the first zoos in Columbus, known as "The Zoo", that failed after only five months, opening in May and closing in November of 1905.
Real estate appraisal, property valuation or land valuation is the process of assessing the value of real property (usually market value). Real estate transactions often require appraisals because every property has unique characteristics.
The average property tax rate is 0.56%, one of the lowest rates in the country. The average homeowner will pay around $1,707 - more than $1,000 less than the national average.
The land, once primarily industrial, houses the National Veterans Memorial and Museum, the COSI science museum, the Toledo and Ohio Central Railroad Station, a police station, the Lower Scioto Greenway, and the parks Genoa Park, Dorrian Green, and the Memorial Grove. All other spaces are used for parking or are vacant lots awaiting redevelopment.
Italian Village is located in the north side of Columbus, Ohio just north of Downtown and adjacent to the central business district. [2] The area is bounded by Interstate 670 on the south, Fifth Avenue on the north, North High Street on the west, and the Conrail railroad tracks to the east. [2]