Real Property
Real Estate Taxes:
Real Property Tax Relief, Number of Homestead Exemptions
Granted, Average Reduction in Taxable Value and Total
Reduction in Taxes, by County, Tax Year 2006
Homestead exemption property tax reductions are granted to
qualified low-income homeowners who are at least 65 years of
age or permanently and totally disabled or to surviving
spouses at least 59 years of age if the deceased had
previously received the exemption. Qualified senior
citizens or disabled homeowners receive tax reductions based
on their total income, provided that the income does not
exceed $26,200. The reduction is equal to the gross
millage property tax rate multiplied by the reduction in
taxable value shown in the following schedule (Tax Year
2006):
Total Income of
Reduce Taxable Value
Owner and spouse
by the Lesser
of
Under
$13,400
$5,500 or 75% of taxable value
$13,401 -
19,700
3,400 or 60% of taxable value
19,701 -
26,200
1,100 or 25% of taxable value
Over
26,200
-0-
Statewide, a total of 216,810 real property homestead
exemptions were granted in tax year 2006; the average
reduction in taxable value was $4,070; and the total
reduction in real property taxes was $70,105,575.
It should be noted that several Ohio counties did not submit
data for tax year 2006: Adams, Ashland, Delaware, Fayette,
Knox, Morgan, Perry and Union; prior year data was used
in place for these counties.
In comparison to tax year 2005, the number of homestead
exemptions granted decreased by 2.4%, the average reduction
in property value increased by 2.1% and the total reduction
in property taxes decreased by 0.5%.
Cuyahoga County had the greatest number of homeowners
receiving this tax reduction, 29,986, and the largest total
reduction in taxes, $12.7 million. Holmes County had the
least number of homeowners receiving this tax reduction, 365,
and the least total reduction in taxes, $88,762.
The figures in the first two columns of this table were
compiled through a survey of county auditors conducted by the
Ohio Department of Taxation. The data in the third
column are actual distribution records from the Revenue
Accounting Division of the Ohio Department of Taxation.
This column shows the reduction in real property taxes -
actual amounts reimbursed to each county for the homestead
exemption, including reimbursements for refunds issued by the
county to taxpayers that filed "late" applications for the
tax year 2006 homestead exemption. Calculated
administrative fees of $1,402,111 paid to the county auditors
are excluded from Table HE-1.