Updated about 8 years ago on . Most recent reply
Ohio Property Taxes Question
Hello all,
We are looking to start buying and holding residential SFH in Ohio. I have a question on the property tax and how it is calculated. Looking at the county assessor website, there is a top number then there are a number of deductions and then a final number. My question is that which of the deduction are still applicable to the investor. Column1 is 1st half and column 2 is second half.
I assume that house bill 920 is always in affect, non business credit will be applied if I don't purchase the propety in LLC otherwise if I do that that deduction will be removed, and I assume that owner occupied will be removed regardless how I take title as long as I use it as a rental. Thanks in advance
Example
| Tax Year 2017: | ||
| General: | 1,705.87 | 1,705.87 |
| House Bill 920: | -502.09 | -502.09 |
| Non-Business Credit: | -102.95 | -102.95 |
| Owner Occupied Credit: | -25.72 | -25.72 |
| Homestead Reduction: | 0.00 | 0.00 |
| Net General: | 1,075.11 | 1,075.11 |