Tangible Personal Property Tax
Tangible Personal Property Tax Data: Taxes
Levied by Type of Governmental Unit and Value of Property, by
County, Calendar Year 2008
The tangible personal property tax is a tax on businesses in
Ohio. Taxes levied on tangible personal property by all
local governments in Ohio for calendar year 2008 totaled
$539.7 million on a total taxable value of $6.6 billion
(after deduction of the $10,000 exemption granted each
taxpayer).
The tangible personal property tax is being phased out
between 2006 and 2009 as part of the tax changes contained in
Amended Substitute House Bill 66, the two-year state budget
bill for Fiscal Years 2006-2007. The phase-out is
accomplished by lowering the assessment percentage for all
tangible personal property, including inventories. For
more details on the phase-out see http://tax.ohio.gov/divisions/personal_property/PPT_law_changes_070303.stm
This year constitutes the last edition of the PD-15
table. Beginning in tax year 2009, all tangible
personal property of general (non-public utility) taxpayers
is exempt from taxation, with the exception of telephone
companies (whose property is exempt starting in tax year
2011).
Of total tangible personal property taxes levied in tax year
2008, school districts levied $385.9 million, county
governments and special districts levied approximately $101.0
million, cities and villages levied $28.5 million, and
townships levied $24.4 million. All figures represent taxes
levied for 2008 to be collected in the same year. (This
differs from the real estate and public utility property
taxes which are levied for a given year but collected the
following year.)
The first $10,000 of otherwise taxable value for each company
(RC 5709.01) is exempted. The $10,000 exemption reduced
the statewide taxable value by $300.9 million and reduced
statewide taxes levied by $24.9 million.
However, beginning in tax year 2004, taxpayers with a taxable
value of less than $10,000 are no longer required to file a
return. A phase-down of the reimbursement to local
subdivisions for the revenues lost due to this exemption
began in fiscal year 2004, with the reimbursements being
totally eliminated starting in fiscal year 2010. In
fiscal year 2009, these reimbursements made to local
governments were $15.3 million (16 percent of the fiscal year
2003 reimbursements).
The figures in the county, township, school district, and
city and village columns indicate the total amount of
tangible personal property taxes levied by each of these
types of governmental units on taxable property within each
county. The column for delinquent taxes includes not only
delinquent taxes from the previous year (2007), but also
delinquent taxes remaining from all earlier years (2006 and
earlier).
The figures shown have been compiled from abstracts filed by
each of the 88 county auditors with the Ohio Department of
Taxation, Tax Equalization Division.