Real Property
Real Property Valuations
Valuation of Exempt Real Property by Class and County,
Calendar Year 1996
While about $129.9 billion of assessed real property value
was taxable in Ohio during tax year 1996, about $21.6 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 would fall under the heading of
"Tax Abatements".
The largest class of exempted assessed real property is
"Boards of Education" property valued at approximately $3.5
billion. The fastest growing class of exempted property is
the tax abatement category.
The figures shown were compiled from the Exempted Real
Property Abstracts filed by county auditors.