Effective: June 30, 2005
Latest Legislation: House Bill 66 - 126th General Assembly
(A) In assessing taxable property the assessor shall be governed by the rules of assessment prescribed by sections 5711.01 to 5711.36 of the Revised Code. Wherever any taxable property is required to be assessed at its true value in money or at any percentage of true value, the assessor shall be guided by the statements contained in the taxpayer's return and such other rules and evidence as will enable the assessor to arrive at such true value. Wherever the income yield of taxable property is required to be assessed, and the method of determining between income and return or distribution of principal, or that of allocating expenses in determining net income, or that of ascertaining the source from which partial distributions of income have been made is not expressly prescribed by sections 5711.01 to 5711.36 of the Revised Code, the assessor shall be guided by the statements contained in the taxpayer's return and such general rules as the tax commissioner adopts to enable the assessor to make such determination.
(B) For tax years before tax year 2009, the true value of the boilers, machinery, equipment, and any personal property used to generate or distribute the electricity shall be the sum of the following:
(1) The true value of the property as it would be determined under this chapter if none of the electricity were distributed to others multiplied by the per cent of the electricity generated in the preceding calendar year that was used by the person who generated it; plus
(2) The true value of the property that is production equipment as it would be determined for an electric company under section 5727.11 of the Revised Code multiplied by the per cent of the electricity generated in the preceding calendar year that was not used by the person who generated it; plus
(3) The true value of the property that is not production equipment as it would be determined for an electric company under section 5727.11 of the Revised Code multiplied by the per cent of the electricity generated in the preceding calendar year that was not used by the person who generated it.
(C) For tax years before tax year 2009, the true value of personal property leased to a public utility or interexchange telecommunications company as defined in section 5727.01 of the Revised Code and used by the utility or interexchange telecommunications company directly in the rendition of a public utility service as defined in division (P) of section 5739.01 of the Revised Code shall be determined in the same manner that the true value of such property is determined under section 5727.11 of the Revised Code if owned by the public utility or interexchange telecommunications company.
Structure Ohio Revised Code
Chapter 5711 | Listing Personal Property
Section 5711.01 | Listing Personal Property Definitions.
Section 5711.02 | Annual Returns - Supplying of Blanks.
Section 5711.03 | Listing of Taxable Property.
Section 5711.04 | Time for Making Returns.
Section 5711.05 | Returns of Taxable Property - Fiduciary Returns.
Section 5711.06 | Listing of Transferred Investments.
Section 5711.07 | Proper Taxing District for Listing Property.
Section 5711.09 | Powers and Duties of Tax Commissioner - Contents of Return.
Section 5711.10 | Option to File Verified Federal Income Tax Return.
Section 5711.131 | County Supplemental Return.
Section 5711.14 | Consolidated Returns for Corporations - Joint Returns for Husband and Wife.
Section 5711.15 | Valuation of Merchandise Offered for Sale.
Section 5711.16 | Listing of Personal Property by Manufacturer - Average Value of Articles.
Section 5711.17 | Separate Listing of Property by Manufacturer.
Section 5711.18 | Valuation of Accounts and Personal Property - Procedure - Income Yield.
Section 5711.19 | Determination of Trust Income - Cash Distribution.
Section 5711.21 | Rules Governing Assessments.
Section 5711.22 | Listing and Rates of Personal Property Tax.
Section 5711.221 | Report of Investment Income.
Section 5711.23 | Reclassified Property Assessable.
Section 5711.24 | Power of Tax Commissioner to Assess Taxable Property - Assessment Certificate.
Section 5711.25 | Procedure in Dealing With Assessment Certificates - Final Certificates.
Section 5711.26 | Commissioner May Make Certain Final Assessments.
Section 5711.30 | Penalty Assessment for Declaring a Nominal Dividend or to Evade Taxes.
Section 5711.31 | Notice of Assessment - Petition for Reassessment - Final Determination.
Section 5711.32 | Correction of Records and Tax Lists.
Section 5711.33 | Tax Bills Issued for Deficiency Assessment.
Section 5711.34 | List of Investment Holders in Corporations to Be Filed With Tax Commissioner.
Section 5711.341 | List of Investors in Money Market Investment to Be Filed With Tax Commissioner.
Section 5711.35 | Resident Deputy County Treasurer.
Section 5711.36 | Filing and Preservation of Returns and Assessment Certificates.