An Ohio investor owns a four-unit apartment building that he operates as a rental business. He applies for the 10% non-business property rollback. Which statement is correct?
Correct Answer
A) The property may qualify as non-business property if it has fewer than five units
In Ohio, residential rental properties with fewer than five dwelling units may be classified as non-business property and qualify for the 10% rollback. The classification depends on the number of units and the property's use. A four-unit building may qualify under this threshold.
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