OH HB482

Modifies the calculation of exempt value for improved property in community reinvestment areas to base exemption on the increased assessed valuation after remodeling began, rather than the total increase.

Clarifies the calculation of exempt value for brownfield remediation properties by specifying the exemption applies to increases in assessed value as of the tax lien date when remedial activities began.

Authorizes persons, boards, or officers to file complaints with the county auditor challenging the continued exemption of property granted exemptions under community reinvestment area or brownfield programs.

Permits property owners to file complaints with the county auditor challenging the assessed value of fully or partially exempt property by December 31st of the tax year.

Updates the exemption calculation methodology in sections 3735.67, 3735.671, 5709.87, and 5715.19 of the Revised Code.