Bloomberg – Thousands of brick houses line the streets of Huber Heights, a leafy suburb of Dayton, Ohio, named for the builder who developed it in the 1950s and nurtured its growth. Until this year, his family was the town\u2019s biggest landlord, with a third of all rental housing. Now the tenants\u2019 payments are being routed to a $9 billion hedge fund.<\/p>\n
Ohio requires a countywide reassessment every three years. In the last one, in 2011, values fell 7 percent, or about $2 billion in Montgomery County. \u00a0Magnetar Capital LLC, investigated by the Securities and Exchange Commission for its housing bets leading up to the property crash, acquired a rental business in January with about 1,900 properties from Charles H. Huber\u2019s widow. In April, its management company applied for the largest cut to property tax assessments in the county\u2019s history. The move could curb funding for public schools, the police and fire departments and services to the disabled, said Montgomery County Auditor Karl Keith.<\/p>\n