Tax Rules: Final: 5703-3
5703-3-29 Personal property leased and used
exclusively for agricultural purposes not subject to personal
property tax.
(A) Pursuant to section 5701.08 of the Revised Code, leased
property used by the lessee exclusively for agricultural
purposes is not considered "used in business" and, therefore,
not subject to personal property tax under the provisions of
division (B)(1) of section 5709.01 of the Revised Code.
(B) In order to verify that leased property is used by the
lessee exclusively for agricultural purposes, the
owner-lessor shall obtain a certificate from each lessee
claiming to be using the leased property exclusively for
agricultural purposes. The certificate shall be retained with
the pertinent lease records. If the use of the property
changes from exclusive agricultural use the lessee shall so
notify the lessor who shall thereafter list the property for
taxation.
A form not required to be prescribed by rule is available for
use as a
certificate of exclusive agricultural use. The form is
not prescribed by or a part of this rule. The form may be
obtained from the department of taxation and is available on
the department’s web site. The form may be reproduced as
needed.
Effective: 6-3-04
Promulgated under: 5703.14
Authorized by: 5703.05
Amplifies: 5703.14, 5701.08, 5709.01
Prior effective dates: 3-29-84