In Ohio, the constitutional limitation that restricts the amount of property tax that can be levied without voter approval is known as the:
Correct Answer
B) 10-mill limitation
Article XII, Section 2 of the Ohio Constitution establishes the 10-mill limitation, which restricts unvoted property tax levies to 10 mills ($10 per $1,000 of assessed value). Any millage above 10 mills requires voter approval.
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Previous Question
An Ohio property has a market value of $160,000. If Ohio assesses property at 35% of market value and the local school district levies 50 mills, how much of the annual tax goes to the school district?
Next Question
A property in Lake County, Ohio is appraised at $350,000 by the County Auditor. The owner believes it should be valued at $290,000 and files a complaint with the Board of Revision, which agrees and reduces the value to $290,000. At 35% assessment and a total millage rate of 90 mills, how much will the owner save annually?