Question

Answer the following questions about property tax in Ohio.

1. What property classifications are used?
2. Who is responsible for assessing property values?
3. How often are assessments redone?
4. What assessment ratio is used?
5. What property tax relief does Ohio provide?

Answer 1

1.) Property classification

• Class I real includes residential and agricultural
• Class II real includes commercial, industrial, mineral, and public utility
• Public utility tangible personal property

2.) County Auditor is responsible for assessing property values.

3.) Assessments are redone Once every six years.

4.) Assessment ratio = Assessible value is 35% of the appraised value of property.

5.) Property tax relief Ohio provides :-

• 10% Rollback
• Owner Occupancy Credit
• Homestead Exemption
• Qualifying non-profit organizations that own real estate may be exempt from real estate taxation.