Real Estate and Public Utility Tangible Property Taxes
Real Estate and Public Utility Tangible Property
Gross Taxes Levied, Taxes Charged, and Value of Property by
Class of Property and City, Calendar Year 1983 (1984
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 1983 (1984
collection) were $1,959,472,495 on a total assessed value of
$42,285,597,678. 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 $2,533,331,904.
Applying the percentage reductions required by Section
319.301 of the Ohio Revised Code to this gross amount yields
the net figure for taxes charged of $1,959,472,495. Separate
percentage reductions were applied to the 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. As shown in the 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 not technically reductions in "taxes
Real Property taxes are reduced directly through a "composite
tax reduction factor". Calculation of taxes levied after tax
reduction factors involves two main steps.
The Ohio Department of Taxation certifies to each county
auditor tax reduction factors to be applied to each tax levy
for each of the two classes of 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 taxes.
The Ohio Department of Taxation, then, calculates a composite
reduction factor to be applied to individual tax bills in a
taxing district for each taxing district in the county. (A
taxing district may be generally defined as a geographical
area in which the total rate is uniform throughout.) To
compute the composite tax reduction factors, the Department
of Taxation uses the reduction factors for each taxing unit
within a taxing district and multiplies them by the relative
weights of each levy effective in the taxing district.
The calculations yield "taxes charged" for each class of real
property as shown in Table PD-27.
The figures were taken from abstracts filed by county
auditors with the Ohio Department of Taxation.