OH SB336

Amends sections 5713.03 and 5715.01 of the Revised Code to require county auditors to value federally subsidized residential rental property based on market rent and expenses, not contract rent.

Defines "subsidized residential rental property" as residential rental properties (excluding college dormitories) where construction/renovation costs are federally funded, rent is federally subsidized, or the property is a qualified low-income housing project with federal tax credits.

Requires market rent and expenses for subsidized properties to be calculated without considering effects from government police powers or other governmental actions.

Applies to residential rental properties with one or more dwelling units rented solely for residential purposes that meet at least one of three federal subsidy criteria.

Repeals existing sections 5713.03 and 5715.01 to implement these new valuation requirements for property assessment and taxation purposes.