Real Property
Real Property Valuations
Valuation of Real Property Exempted by Tax Abatements, by
Class of Abatement and County, Calendar Year 1992
The value of real property in Ohio that was exempt from
taxation amounted to $17,349,182,390 (see PE-2) for tax year
1992. Of this amount, $1,627,701,390 was exempt from taxation
due to exemptions granted by local governments through tax
abatements. The largest type of tax abatement program is the
community reinvestment program with $802,043,090 in exempt
value. Tax abatements are granted by county, township and
municipal governments for the purposes of economic
development and urban renewal. Table PE-3 shows the value of
the real property exempted using tax abatements, by abatement
class, and by county.
Each abatement class shown in the table is a program
administered by county, township or municipal governments.
The five tax abatement classes are as follows:
* Community urban redevelopment corporation abatement (ORC
1728.01 - 1728.13) - exempts value of improvements to real
property by designated corporations in certain blighted
areas. The corporations make service payments in lieu of real
property taxes. Designated by municipal authorities;
* Community reinvestment area abatements (ORC 3735.65 -
3735.70) - exempts certain real property improvements in
areas designated by municipal or county authorities;
* Urban redevelopment tax increment financing (ORC 5709.41 -
5709.43) - exempts improvements to real property to which a
municipality or a township holds title. Local officials may
require the "lessee" to pay service fees equivalent to the
tax that would have been collected had exemptions not been
granted;
* Municipal urban renewal abatements (ORC 725.01 - 725.11) -
exempts improvements to real property in designated "urban
renewal areas". A municipality then requires service fees to
be paid by the owner to service outstanding urban renewal
bonds issued by the municipality;
* Other abatements - comprised mainly of enterprise zone tax
abatements. Enterprise zones are designated by municipalities
or by counties with the municipalities' consent.
Figures shown are compiled from Exempted Real Property
Abstracts filed by county auditors.