An Ohio property's market value increases from $200,000 to $260,000 at the triennial update. The inside millage is 10 mills. How much does the inside millage tax increase as a result?
Correct Answer
C) $210
Step 1: Old assessed = $200,000 × 0.35 = $70,000. Inside tax = $70,000 × 0.010 = $700. Step 2: New assessed = $260,000 × 0.35 = $91,000. Inside tax = $91,000 × 0.010 = $910. Step 3: Increase = $910 − $700 = $210. Note: Inside millage is NOT subject to HB 920, so it increases with value.
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