An Ohio County Auditor discovers during the triennial update that a neighborhood's values have DECREASED by 12%. Under Ohio law, what happens to the voted levy millage rates for that area?
Correct Answer
A) HB 920 requires the effective millage rate to INCREASE to maintain the same revenue level
HB 920 works both ways — when values decrease, the effective millage rate on voted levies increases (the tax reduction factors are adjusted upward) to maintain approximately the same level of revenue. This ensures that value decreases do not cause revenue shortfalls for taxing districts.
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