OH SB246

Requires the capitalization rate for Current Agricultural Use Value (CAUV) calculations to exclude appreciation and equity buildup in the computation method.

Mandates that agricultural land used for conservation practices or enrolled in federal land retirement/conservation programs for at least three years must be valued at the lowest soil type value rather than actual soil type value.

Establishes a recoupment charge when land valued at the lowest soil type ceases conservation use or federal program enrollment before 36 months, calculated on tax savings from previous valuations (not to exceed 3 years).

Applies amendments to tax year 2015 and thereafter in all Ohio counties.