Government Resources

Certified Tax Value Losses

Certified Tax Value Losses Under O.R.C. 5727.84

Senate Bills 3 and 287 of the 123rd General Assembly reduced the listing percentages on electric utility and natural gas utility tangible personal property. These changes take place in tax year 2001. The lower listing percentages will result in large decreases in the taxable value of the effected property. To prevent schools and other local governments from seeing lower tax revenues from the lower taxable values, the bills created a reimbursement mechanism whereby the state will hold them harmless against revenue declines.

 The first step in calculating the tax losses from the listing percentage changes is to determine the valuation drops caused by the bills. These valuation drops, defined in law as the "tax value loss," are to calculated and certified to the Department of Education by January 1, 2002. The tax value loss for electric property is defined as the difference between actual value in tax year 1998 and what values in 1998 would have been had the apportionment and listing percentages been the same in 1998 as they are in 2001. The tax value loss for natural gas property is defined as the difference between actual value in tax year 1999 and what values in 1999 would have been had the listing percentages been the same in 1999 as they are in 2001.

 Attached to this document are two tables, the tax value losses by taxing district and by school district that have been certified to the Department of Education. The taxing district table identifies the school district, joint vocational school district, municipality, township, and special district that is associated with each taxing district.

The tax value loss totals about $4.45 billion, $3.25 billion for electric property and $1.2 billion for gas property. Any tax revenue that would otherwise have been lost due to these valuation changes will be fully reimbursed to schools and local governments.

Please note:  Most of our data is available in one of three different formats.  Spreadsheets and downloadable data is offered in either Lotus *wk1 and/or Microsoft *xls and can be used with most recent Lotus SmartSuite or Microsoft Office 97 spreadsheet or database applications.  These files are ideal for use when extracting and merging data.  The Adobe *pdf files provide a nice, clean, printed copy.  Adobe Acrobat Reader is the application required to view the *pdf  files and can be downloaded, if necessary, from adobe.com.  Thanks for your continued interest.