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Owners can challenge property values, but not the taxes. I appreciate Ohio Auditor Keith Faber highlighting in a guest opinion column published in The Dispatch last week that property owners ...
Property tax exemptions can alleviate some of your property tax bill. With the right exemptions, you may not have to pay any property tax. If you are part of these demographics, here are some ...
Apr. 4—A plan to change ballot language for tax levies across Ohio has support from a group which calculates property taxes and opposition from entities which spend them. Ohio House Bill 140 ...
The property tax typically produces the required revenue for municipalities' tax levies. One disadvantage to the taxpayer is that the tax liability is fixed, while the taxpayer's income is not. The tax is administered at the local government level. Many states impose limits on how local jurisdictions may tax property.
A like-kind exchange under United States tax law, also known as a 1031 exchange, is a transaction or series of transactions that allows for the disposal of an asset and the acquisition of another replacement asset without generating a current tax liability from the sale of the first asset. A like-kind exchange can involve the exchange of one ...
A Property Tax Circuit Breaker is a tax refund in the United States given to low income individuals and families whose property tax liability is a large percentage of their yearly income. The term was coined by John Shannon of the Advisory Commission on Intergovernmental Relations in the 1960s. There are currently 18 states who use a wide scope ...
A primer to Ohio's property taxes. For premium support please call: 800-290-4726 more ways to reach us
Tax evasion is criminal, and has no effect on the amount of tax actually owed, although it may give rise to substantial monetary penalties. By contrast, the term "tax avoidance" describes lawful conduct, the purpose of which is to avoid the creation of a tax liability in the first place. Whereas an evaded tax remains a tax legally owed, an ...