Bill > HB124

This bill modifies the process for property tax sales-assessment ratio studies in Ohio by changing several key provisions. The bill requires the tax commissioner to base sales-assessment ratio studies solely on a representative sampling of open market, arms-length sales provided by county auditors, specifically focusing on sales occurring within the three years prior to the tax year being studied. The bill shifts some responsibilities from the tax commissioner to county auditors, such as conducting appraisals when there are insufficient sales data and determining the representative nature of sales samples. The legislation also adjusts procedural timelines, such as moving the county board of revision's assessment review date from the second Monday in June to the second Monday in May. Additionally, the bill establishes new appeal processes for both county auditors and the tax commissioner, allowing challenges to determinations about sales samples and property valuations. The changes will apply to tax year 2026 and subsequent years, providing a clear timeline for implementation. The overall aim appears to be improving the accuracy and transparency of property tax assessments by refining the data collection and review processes.

Government Affairs

https://www.legislature.ohio.gov/legislation/136/hb124