Tax Data Series

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.