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Is your Ohio Real Estate Tax liability going up or down? Preserve your rights!

PDF/Printer Friendly Version Changing Landscape of the Tax Law For several years, the general rule for real estate tax purposes was if property sold in an arm’s length transaction and the transaction was “recent” to the tax lien date (January 1), that sale price would generally control as the “fair market valuation” used by the county auditor for real estate tax purposes. In short, the sale price would be used to set the value for the current and future tax years. The law in this area, however, is changing. On June 22, 2017, the Supreme Court of Ohio issued an opinion in Terraza 8 L.L.C v. Franklin Cty. Bd. of Revision, Slip Opinion No. 2017-Ohio-4415. The case involved the sale of a p

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