An Ohio homeowner reviews her tax bill and sees both 'gross tax' and 'net tax' amounts. The net tax is lower than the gross tax. The difference is MOST likely due to:
Correct Answer
D) State-funded tax credits such as the 10% non-business rollback and 2.5% owner-occupancy credit
In Ohio, the difference between gross tax and net tax on a property tax bill is primarily due to state-funded tax credits. The 10% non-business property rollback and the 2.5% owner-occupancy credit (for eligible homeowners) reduce the gross tax to arrive at the net tax amount owed.
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