County Bulletin
TO: ALL COUNTY AUDITORS - Bulletin No. 182
FROM: Stanley J. Bowers, Tax Commissioner
RE: Revenue Procedure 62-21
DATE: November 28, 1962
Subsequent to the publication of Revenue Procedure 62-21,
this Department has given careful and studied consideration
to the depreciation guidelines therein set forth with a view
to determining their acceptability for determining the true
value of tangible personal property for Ohio personal
property tax purposes.
Based upon our review thereof and upon continuing studies of
the relationship of determined true value to net book value
of machinery and equipment for selected industries, it is the
position of this Department that such depreciation guidelines
will not be acceptable for purposes of determining the true
value of depreciable property for Ohio personal property tax
purposes. This Department will, accordingly, adhere to its
published prima facie rates of depreciation and its long
established and judicially approved true value (302)
computation in determining the true value of tangible
personal property.