Loading chat...
OH SB153
Bill
Status
9/12/2023
Primary Sponsor
George Lang
Click for details
AI Summary
-
Shifts the valuation period for agricultural land in counties undergoing reappraisal from 2017-2019, 2018-2020, and 2019-2021 to 2023-2025, 2024-2026, and 2025-2027 respectively.
-
Changes the calculation method for current agricultural use value from a sum to an average of three components: current year value, prior year value from counties' reappraisal year, and value from two years prior.
-
Modifies sales-assessment ratio studies for tax years 2023-2025 to use all open market sales during the three prior calendar years rather than representative sampling, with no weighting toward any particular year.
-
Requires the Tax Commissioner to issue updated 2023 agricultural use value tables within 15 days of the bill's effective date to reflect these changes.
-
Extends the deadline for tax duplicate delivery to the first Monday in December for counties receiving updated valuations, with corresponding extensions to tax payment periods.
Legislative Description
Temporarily modify the method for valuing real property for taxes
Taxation
Last Action
Referred to committee: Ways and Means
9/13/2023