A new condo development in Ohio is being built. The developer wants buyers to understand how property taxes on individual units will be determined. The developer should explain that in Ohio, each condo unit will be:
Correct Answer
D) Assessed individually based on its own market value at 35% and taxed according to the local millage rate
In Ohio, each condominium unit is individually assessed by the County Auditor at 35% of its market value and taxed according to the local millage rate, just like any other real property. Each unit receives its own parcel number and tax bill.
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