Real Estate and Public Utility Tangible Property Taxes
Real Estate and Public Utility Tangible Property
Taxes
Levied, Taxes Charged, and
Value of Property by Class of Property and City,
Calendar Year 1998 (1999 Collections)
Taxes charged (after reduction factors) on all real estate
and on public utility tangible property within cities by all
local governments in Ohio for calendar year 1998 (1999
collection) were $5.1 billion on a total assessed value of
$88.4 billion. The gross amount of real estate and public
utility tangible personal property taxes levied (before
reduction factors) reported on abstracts filed by the county
auditors was $7.3 billion.
In calendar year 1998, the City of Columbus in Franklin
County had the largest total in dollars of taxable value,
gross taxes levied and taxes charged on all real and public
utility property at $9,406.8 million, $775.1 million and
$571.2 million, respectively. Holiday City in Williams County
had the smallest total in taxable value at $28.1 million
while Greenfield in Highland County had the smallest gross
taxes levied at $1.4 million and taxes charged at $1.2
million.
Percentage reductions required by Section 319.301 of the Ohio
Revised Code were applied to the gross taxes levied to get
the net figure for taxes charged. Separate percentage
reductions were applied to two classes of real property: the
combined value of residential and agricultural property and
the combined value of commercial, industrial, mineral, and
public utility property. The tax reduction factors are
calculated to eliminate the effect of increases in the
valuation of existing real property in a taxing unit (school
district, county, municipality, etc.) on voted levies. As
shown on the attached table, these percentage reductions do
not apply to public utility tangible personal property taxes.
The "taxes charged" figure is prior to any reduction of real
estate taxes resulting from the 10 percent rollback for all
real property, 2.5 percent rollback for residential real
property, or homestead exemption. These reductions are fully
reimbursed to local governments from the State General
Revenue Fund and are therefore not reductions in local
revenues.
The figures were taken from abstracts filed by the county
auditors with the Ohio Department of Taxation.