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Facts & Figures - Ohio

Property taxes for the state of Ohio.

The Buckeye State taxes real property and improvements at 35% of its fair market value, except for certain agricultural land. Tax rates vary by taxing jurisdiction and include all levies approved by legislature or voters in which the property is located (e.g. county, township, city, school district, etc.).

The “gross” millage rate in 2005 averaged to 85.24 mills on residential and agricultural real property, whereas the “effective” millage rate was 55.18 mills. Gross and effective rates differ because of tax reduction factors, which prevent voted taxes from increasing when property is reassessed and revalued.

Real property in every county is reappraised every six years, while property values are updated in the third year after reappraisal. The Department of Taxation compares the assessed taxable value to the sales price of properties to check the reappraisal process.

Recently, in an effort to make the state more attractive to businesses, the State of Ohio passed House Bill 66, which eliminates all property tax on tangible property. Over the next several years, the tax (known legally as Personal Tangible Property Tax) will be reduced and eliminated.

Ohio offers various forms of property tax relief. A 2.5% property tax reduction is available on all residential and agricultural land with a house (manufactured homes included) built on it and that the property owner claims as their primary residence. Additionally, the homeowner must be:

  • 65 of age or older with an income no more than $26,200; or
  • totally and permanently disabled as of January 1 of the tax year in which the claim is filed (no age limit); or
  • the surviving spouse of a qualified homeowner and who was at least 59 years old when their spouse died.

For 2006, the reduced taxable value was broken down like this:

  • Income $13,400 or less – 75% or $5,500
  • $13,401-19,700 – 60% or $3,400
  • $19,701-26,200 – 25% or $1,100
  • over $26,200 – none

In addition, all taxpayers are eligible for a 10% rollback on all real property where business activities are not conducted. Landowners with qualifying forest land may be eligible for a 50% property tax reduction under the Ohio Forest Tax Law. More information on taxes can be found here.

Ohio Department of Taxation

 

 



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