Real Property Valuations
Valuation of Exempt Real Property by Class and County,
Calendar Year 2002
While about $186.8 billion of assessed real property value
was taxable in Ohio during tax year 2002, approximately $30.9
billion was exempt from taxation due to provisions of the
Ohio Constitution and the Revised Code.
Table PE-2 shows the value of the exempted assessed real
property by property class and by county. The exempted
property is broken into property classes based on reasons for
exemption, ownership of the property, or purposes for which
the property is used. Real property owned by federal, state,
or local governments is exempt from real property taxation
and is shown in the table under the categories, "United
States of America," "State of Ohio," "County," "Townships,"
"Municipalities," and "Boards of Education". Other real
property owned by governments and used for recreational
rather than governmental purposes is found in the category of
"Conservancy Districts and Park Districts". Privately-owned
educational facilities are exempted and their exempted values
are found in the category of "Schools, Colleges, and
Academies". Real property owned by institutions with tax
exempt status are found in the categories of "Charitable
Institutions" and "Churches". Property used as cemeteries and
fixtures used in cemeteries are in the category of
"Cemeteries and Monuments". Municipal, township, and county
governments can grant exemptions as incentives for economic
development and urban renewal; these forms of exempt real
property fall under the heading of "Tax Abatements". Property
exempted due to tax abatements was the largest class of
exempt real property in calendar year 2002 with a value of
approximately $5,169.9 million; while "Boards of Education"
property was the second largest class at $4,701.3 million.
The figures shown were compiled from the Exempted Real
Property Abstracts filed by county auditors.