A city in Ohio establishes an Enterprise Zone and offers a 75% real property tax exemption for 10 years to a new manufacturing facility. Under Ohio law, this exemption:
Correct Answer
B) Requires approval by each affected school district before it can take effect
Under ORC Chapter 5709, Enterprise Zone tax exemptions for real property require the approval of the affected school district(s) in Ohio. School districts have the right to negotiate the terms or reject the exemption because it directly impacts their tax revenue.
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