Tax Data Series

Tangible Personal Property Tax

Tangible Personal Property Tax Data
Taxes Levied by Type of Governmental Unit and Value of Property, by County, Calendar Year 2004

Tangible personal property taxes levied by all local governments in Ohio for calendar year 2004 totaled $1.7 billion on a total taxable value of $21.3 billion. Both of these figures are after deduction of the $10,000 exemption granted each taxpayer. The $10,000 exemption reduced the statewide taxable value by $701.7 million and reduced statewide taxes levied by $55.9 million.

Due to a law change in the FY 2004-2005 state operating budget bill, beginning in tax year 2004 businesses with less than $10,000 in assessed valuation no longer have to file a tangible personal property tax return. As a result, beginning in tax year 2004 the amount of reported exempted value and taxes foregone as a result of the $10,000 exemption is smaller than reported for prior years.

Beginning in fiscal year 2004, the state's reimbursement amounts to local taxing districts for the $10,000 exemption are based on the fiscal year 2003 reimbursements, reduced by a designated percentage each year. Phase-out of the $10,000 exemption reimbursements will take place over seven years. In fiscal year 2005, local governments were reimbursed by the state for $74.8 million of their total foregone revenue.

Of total taxes levied, school districts levied $1,180.6 million, county governments and special districts levied $314.2 million, cities and villages levied $91.8 million, and townships levied $65.2 million. All figures represent taxes levied for 2004 to be collected in the same year. This differs from the real estate and public utility property taxes which are levied for a given year but collected the following year.

The figures in the county, township, school district, and city and village columns indicate the total amount of tangible personal property taxes levied by each of these types of governmental units on taxable property within each county. The column for delinquent taxes includes not only delinquent taxes from the previous year (2003), but also delinquent taxes remaining from all previous years.

The figures shown have been compiled from abstracts filed by each of the 88 county auditors with the Ohio Department of Taxation, Tax Equalization Division.