Tax Data Series

Tangible Personal Property Tax

Tangible Personal Property Tax Data
Reduction in Value and Amount Reimbursed for the $10,000 Exemption,
by County, Calendar Year 1989

This table shows the reduction in taxable value in each county resulting from the $10,000 tangible personal property tax exemption. Also shown is the amount reimbursed by the state to each county to compensate them for the local tangible personal property tax loss. This exemption applies to the first $10,000 of taxable value for each company in Ohio. The local revenue loss caused by this exemption is completely reimbursed by the state.

The total reduction in taxable value caused by this exemption in 1989 was slightly over $1.0 billion compared to approximately $999.1 million in 1988. The total amount reimbursed to local governments for the taxes that would have been levied on this property amounted to $68.9 million in 1989, a 6.4 percent increase from the $64.7 million reimbursed in 1988.

Franklin County had the largest increase in the amount of reduced taxable value from $86.2 million in 1988 to $90.1 million in 1989, a $3.9 million increase. Lucas County had the largest decline in the amount of reduced taxable value from $43.6 million in 1988 to $41.2 million in 1989, a $2.4 million decline. Franklin County had the largest increase in the amount reimbursed from $5.8 million in 1988 to $6.5 million in 1989, a $0.6 million increase. Allen County had the largest decline in the amount reimbursed, $13,931.