Report of the Committee to Study State and Local Taxes - Ohio ...
Report of the Committee to Study State and Local Taxes - Ohio ...
Report of the Committee to Study State and Local Taxes - Ohio ...
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Business Tangible Property Tax<br />
Tax Year 2001 <strong>Taxes</strong> --$1,802.5 million<br />
• Tax Base: 25% <strong>of</strong> depreciated value <strong>of</strong><br />
machinery & equipment <strong>and</strong> furniture &<br />
fixtures <strong>and</strong> 24% <strong>of</strong> average monthly<br />
inven<strong>to</strong>ries (in 2002)<br />
• Tax Rate: Varies by locality; average TY 2001<br />
rate was 75 mills<br />
Business Tangible Property Tax<br />
• Who Pays: Owners <strong>of</strong> tangible property<br />
used in business in <strong>the</strong> state<br />
• How Collected: Annual or semi-annual<br />
payments <strong>to</strong> county treasurer<br />
• Who Administers: County audi<strong>to</strong>rs for<br />
taxpayers operating in a single county; ODT<br />
for taxpayers operating in multiple counties<br />
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