Tax Rules: Final: 5703-25
5703-25-18 Partial exemption from real property
tax.
(A) Real property that is not intended primarily for use in a
business activity shall qualify for a partial exemption from
real property taxation pursuant to section 319.302 of the
Revised Code. For purposes of this partial exemption,
"business activity" includes all uses of real property,
except:
(1) farming;
(2) leasing property for farming;
(3) occupying or holding property improved with
single-family, two-family, or three-family dwellings;
(4) leasing property improved with single-family, two-family,
or three-family dwellings; and
(5) holding vacant land that the county auditor determines
will be used for farming or to develop single-family,
two-family, or three-family dwellings.
(B) For purposes of this partial exemption, "farming" does
not include land used for the commercial production of timber
that is receiving the tax benefit under section 5713.23 or
5713.31 of the Revised Code and all improvements connected
with such commercial production of timber.
(C) In determining whether real property is qualified for the
partial exemption, each separate parcel of real property
shall be classified according to its principal and current
use, and each vacant parcel of land shall be classified in
accordance with its location and its highest and best
probable legal use. In the case where a single parcel has
multiple uses the principal use shall be the use to which the
greatest percentage of the value of the parcel is devoted.
(D) In determining whether real property is qualified for the
partial exemption, the county auditor shall be guided by the
property record of taxable real property coded in accordance
with the code groups provided for in paragraph (C) of rule
5703-25-10 of the Administrative Code.
Effective: 12-15-05
Promulgated under: 5703.14
Authorized by: 5703.05
Amplifies: 319.302, 5713.23, 5713.31