Tangible Personal Property Tax
Tangible Personal Property Tax Data
Reduction in Value and Amount Reimbursed for the $10,000
by County, Calendar Year 1997
The attached 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 1997 was approximately $1.2 billion. The total amount
reimbursed to local governments for the taxes that would have
been levied on this property amounted to $89.9 million in
1997, a 2.7 percent increase from the $87.5 million
reimbursed in 1996.
Hamilton County had the largest increase in the amount of
reduced taxable value from $95.9 million in 1996 to $99.7
million in 1997, a $3.8 million increase. Stark County had
the largest decline in the amount of reduced taxable value
from $39.0 million in 1996 to $34.0 million in 1997, a $5.0
million decline. Cuyahoga County had the largest increase in
the amount reimbursed from $14.0 million in 1996 to $14.7
million in 1997, a $0.7 million increase. Stark County had
the largest decline in the amount reimbursed, $319,955.
The reductions in value shown on this table were compiled
from abstracts filed by each of the 88 county auditors with
the Ohio Department of Taxation, Tax Equalization Division.
The data on the amount reimbursed to the counties are the
amounts certified for reimbursement by the county treasurers.