A buyer in Clermont County, Ohio is reviewing the property tax bill for a home she is considering purchasing. She notices a 'rollback' credit on the bill. In Ohio, the owner-occupancy tax credit (rollback) provides:
Correct Answer
B) A 2.5% additional reduction for owner-occupied residential property
Ohio provides a 2.5% owner-occupancy (homestead rollback) credit to homeowners who occupy their property as a primary residence. This is in addition to the standard 10% non-business property rollback that applies to all qualifying non-business real property. The 2.5% credit is a state-funded reduction.
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More Oh Property Tax Assessment Questions
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Under Ohio property tax law, all of the following types of property are generally exempt from ad valorem taxation EXCEPT:
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In Ohio, if a property owner fails to pay property taxes, a penalty is imposed. When does Ohio begin adding penalties and interest to delinquent property taxes?