Property taxes are calculated using the following factors:

1. Property values
2. Community tax rates
3. HB 920 / Rollbacks / Credits

Property Values

Please be aware that a decrease in property value does not result in a comparable decrease in property taxes due to the HB 920 tax reduction factor (see below).

Community Tax Rates

Property taxes are calculated based on the value of your property and the tax rate within your community. Your 2021 property value was used to calculate your current tax bill. Most tax increases are due to levies approved by the voters in your community at elections held in 2021.

HB 920, Rollbacks and Credits

The HB 920 reduction factor, mandated by Ohio law, is designed to keep tax revenues stable when property values increase or decrease. This reduction factor will keep the revenue to our schools, cities, libraries, etc. at nearly the same level as originally approved by the voters.

As part of the state budget, passed in 2013 the ten and two and one-half percent rollbacks will no longer apply to new levies that are enacted after the August 2013 election. Renewals of the qualified levies, and the substitute of qualified school district emergency levies appear in the Revised Code section 5705.199.

The rollbacks are now referred to as the Non Business Credit and Owner Occupancy Credit.

The HB 920 reduction factor, mandated by Ohio law, is designed to keep tax revenues stable when property values increase or decrease. This reduction factor will keep the revenue to our schools, cities, libraries, etc. at nearly the same level as originally approved by the voters. As part of the state budget, passed in 2013 the ten and two and one-half percent rollbacks will no longer apply to new levies that are enacted after the August 2013 election. Levies that will continue to qualify for application of the rollbacks are levies approved at or before the August 2013 election, inside and charter millage as they appear on the 2015 tax list, renewals of the qualified levies, and the substitute of qualified school district emergency levies under Revised Code section 5705.199.

Owner Occupancy Credit

The Owner Occupancy Credit is a real estate tax reduction available to a homeowner’s principal place of residence. A person can only have one principal place of residence. Since a married couple is presumed to share one domicile, only one Owner Occupancy Credit can apply to properties owned by spouses, unless they can establish that they are domiciled separately.

Your principal place of residence determines, among other things, where you are registered to vote and where you declare residency for income tax purposes.

Learn more about Owner Occupancy Credit.