How Property Tax Works

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How Property Tax Works

Property tax is based on the value of a tax payer's property – including the land and structures on it – and the amount of millage voters have approved. A mill means 1/1,000. Therefore, each mill generates $1 of taxes for every $1,000 of a property's assessed value.

Of the ten inside mills assigned by the state, Washington Township has been allocated 3.05 mills from residents of unincorporated Washington Township and .7 mills from residents of the incorporated area. The rest is voter approved.

The value of taxable property is updated during triennial reappraisals by county auditors. Property tax is collected twice per year, in February and July. 

Limited or Continuous

Millage can be continuous, meaning that it has been allocated for an unlimited period of time, either through state allocation or voter approval. Voters also may approve limited-term levies that expire after a set time.

Fixed Income Status

Under Ohio law, the amount of money a property tax levy collects can not increase beyond the sum collected in its first year, except for added value from new construction during the first year. To implement this provision of the law, a "reduction factor" is applied to properties so that Fixed Income Status is maintained following reappraisals and updates. The adjusted tax rate is called the effective tax rate.

Homestead Exemption

A reduction in property tax is available to all property owners at least 65 years of age or permanently disabled. Owners must apply for the exemption and must reside in the home for which they are applying.