Tax Data Series

Real Property

Real Property Valuations
Valuation of Exempt Real Property by Class and County, Calendar Year 2005

While about $222.5 billion of assessed real property value was taxable in Ohio during tax year 2005, approximately $35.7 billion was exempt from taxation due to provisions of the Ohio Constitution and the Revised Code. Table PE-2 shows the value of the exempted assessed real property by property class and by county.

The exempted property is broken into property classes based on reasons for exemption, ownership of the property, or purposes for which the property is used. Real property owned by federal, state, or local governments is exempt from real property taxation and is shown in the table under the categories, “United States of America,” “State of Ohio,” “County,” “Townships,” “Municipalities,” and “Boards of Education”. Other real property owned by governments and used for recreational rather than governmental purposes is found in the category of “Conservancy Districts and Park Districts”. Privately-owned educational facilities are exempted and their exempted values are found in the category of “Schools, Colleges, and Academies”. Real property owned by institutions with tax exempt status are found in the categories of “Charitable Institutions” and “Churches”. Property used as cemeteries and fixtures used in cemeteries are in the category of “Cemeteries and Monuments”. Municipal, township, and county governments can grant exemptions as incentives for economic development and urban renewal; these forms of exempt real property fall under the heading of “Tax Abatements”.

Property exempted due to tax abatements was the largest class of exempt real property in calendar year 2005 with a value of approximately $6,264.1 million; while "Boards of Education" property was the second largest class at $5,569.1 million.