Property Tax Alert: Ohio

September 2005

Schools and local governments will be reimbursed for lost revenue attributable to the phase-out of the Ohio tangible personal property tax on general business property that was enacted in H.B. 66, Laws 2005, will begin in 2006 and end in 2017. Reimbursements on telephone company property will begin in 2007 and end in 2018.

During a hold-harmless period from 2006 through 2010, local jurisdictions will be fully compensated for all tax revenue losses through a combination of taxes and reimbursements. From 2011 through 2018, with certain exceptions, the reimbursements will be phased out. Beginning in 2006 and ending in 2018, reimbursements will be distributed to schools and nonschools on the last day of May, August, and October.

Please contact Rash & Associates for more information.