Homestead Exemption and Rollback
The State of Ohio reimburses local governments and school districts for the full amount of the 10% rollback, the 2.5% rollback and the homestead exemption.
10% Rollback: Beginning in 1971, a 10 percent reduction, called "Rollback", was applied to each taxpayer's real estate property tax bill. It was later limited to residential real estate, not intended for use in a business activity.
2.5% Rollback: In addition, beginning in tax year 1979, a 2.5 percent rollback was made available to homesteads. The rollback percentage is applied to the value of the dwelling plus up to one acre occupied by the homeowner. In order to receive this tax credit you must complete an application with the County County Auditor certifying the property is your primary residence. For more information, please call the County Auditor's office at 330.424.9515.
Homestead Exemption: The homestead exemption dates back to 1971 and has long offered those who qualify the chance to shield part of their “homestead” — a dwelling and up to one acre — from property taxation.
In 2007, state leaders expanded the homestead exemption to make property tax relief available to more than a half million additional senior citizens and permanently and totally disabled Ohioans. The expanded homestead exemption was available to all homeowners 65 and older and all totally and permanently disabled homeowners. (Treasurer, then Representative Bolon was a co-sponsor of this bill) The law has since been modified and now requires the following qualifications beginning in 2014:
To qualify the homeowner must be:
1. At least 65 years of age or totally and permanently disabled
2. The home must be their principal place of residence
3. The homeowner's adjusted gross income for 2013 must not exceed $30,500
Seniors and disabled Ohioans must apply with their local county auditor in order to take advantage of the homestead exemption. Eligible homeowners must submit an application form (Form DTE105A) to their county auditor. Applications can be submitted in any year after the first Monday in January and on or before the first Monday in June. Please call the County Auditor's office at 330.424.9515 to obtain the application or go to:
http://www.tax.ohio.gov/portals/0/forms/real_property/dte_105a.pdf
Land devoted exclusively to commercial agricultural use may be valued according to its current use. The land must meet one of the following requirements for three years before the year in which application for the current use treatment is made:
1) Ten acres must be devoted to commercial agricultural use; or
2) Under ten acres must be devoted to commercial agricultural use and produce an average yearly gross income of at least $2,500
Additionally, when land valued according to its agricultural use is converted to a different use a charge is assessed on the land in an amout equal to the difference in the amount of tax levied on the converted land during the three tax years immediately preceding the year in which the conversion occurs. For more information regarding CAUV, contact the County Auditor's office at 330.424.9515
Forest land, devoted exclusively to forestry or timber under the rules of the Ohio Department of Natural Resources Division of Forestry, may be taxed at 50 percent of the local rate.
For more information regarding Ohio's forestry program log on to:
http://www.dnr.state.oh.us/Home/landowner/LandownerAssistance/tabid/5279/Default.aspx