Personal Property Tax

County Bulletin

TO:  All County Auditors

FROM:  Thomas M. Zaino, Tax Commissioner

DATE:  August 8, 2001

RE: Reduction In Inventory Listing Percentage

Bulletin No.289

R.C. Section 5711.22 allows for the reduction of the inventory listing percentage beginning with the 2002 Ohio Personal Property Tax Return for tax years 2002 through 2006. The reduction occurs only if the statewide collection of personal property taxes for the second preceding year exceeds collections for the third preceding year. It has been ascertained that the statewide collections for 2001 exceeded collections for 2000.

Therefore, this is official notification that the listing percentage for all merchandising and manufacturing inventories for tax year 2003 is 23%. Schedules 3 and 3A for the 2003 tax return should reflect the 23% listing percentage.

This bulletin will be amended for each subsequent year in which the listing percentage for inventories changes.