Ohio Administrative Code › Title 5703 - Department of Taxation › Chapter 5703-25 - Equalization - Appraisals › Section 5703-25-31 - General

Current through all regulations passed and filed through July 1, 2024
(A) Section
			 5715.01 of the Revised Code
			 requires the tax commissioner to adopt, prescribe and promulgate rules that
			 shall:
"... prescribe the method for determining the current
				agricultural use value of the land devoted exclusively to agricultural use,
				which method shall reflect standard and modern appraisal techniques, which
				shall take into consideration: the productivity of the soil under normal
				management practices; the average price patterns of the crops and products
				produced to determine the income potential to be capitalized; market value of
				the land for agricultural use; and other pertinent factors."
(B) All tracts, lots or parcels of real
			 property in Ohio shall be appraised for tax purposes, at its "true value" in
			 money and assessed at taxable value as provided in rules
			 5703-25-05 to
			 5703-25-17
			 and rules
			 5703-25-30 to
			 5703-25-36.Rules5703-25-30 to
			 5703-25-36
			 of the Administrative Code shall apply if an application is made by the owner,
			 as required by sections
			 5713.31 and
			 5713.38 of the Revised Code,
			 requesting the county auditor to value the land, of such tracts, etc. for real
			 property purposes at the current value such land has for agricultural use, and
			 the county auditor has determined that such tracts, etc. are devoted
			 exclusively to agricultural use as defined in section
			 5713.30 of the Revised
			 Code.
(C) The current agricultural
			 use land value can be estimated by the capitalization of the typical net income
			 from agricultural crops on a given parcel of land assuming typical management,
			 cropping patterns, and yields for the type of soil present on the tract. Values
			 estimated by this method will closely approximate actual market values of farm
			 land where the actual highest and best use is exclusively agricultural
			 unaffected by other uses.
(D) In
			 order to achieve uniformity in the appraisal and assessment of land devoted
			 exclusively to agricultural use in the eighty-eight counties of Ohio, the tax
			 commissioner, after consultation with the agricultural advisory committee
			 shall, annually, adopt a proposed entry setting forth the necessary
			 modifications and values to be used in establishing the current agricultural
			 use value of land in counties completing a sexennial reappraisal or that will
			 be in the third calendar year following the year in which a sexennial
			 reappraisal is completed in the ensuing tax year. Said entry shall set forth
			 the counties in which the values prescribed shall be used and the specific tax
			 years in which such values apply. A public hearing shall be held on the
			 proposed entry after reasonable public notice has been given by the
			 commissioner at least thirty days prior to the date set for the hearing in such
			 manner and form as the commissioner determines. After the hearing the
			 commissioner shall adopt the entry for the ensuing tax year for use in said
			 counties for the next ensuing three tax years.
(E) The valuations made by county auditors of
			 said counties in conformance with these rules and said annual entry will be
			 accepted as prima-facie correct valuation for parcels or tracts of land devoted
			 exclusively to agricultural use where the parcel and tract of land has a "true"
			 or "market" value reflecting a higher and better use than agricultural and the
			 owner has qualified under the provisions of sections
			 5713.30 and
			 5713.31 of the Revised Code to
			 have the land appraised and assessed by the county auditor at the current
			 agricultural land use value.
(F)
			 Nothing contained in these rules shall be construed as an authorization to
			 value parcels, qualified as provided in sections
			 5713.30,
			 5713.31, and
			 5713.38 of the Revised Code for
			 tax purposes at any other value than an identical parcel where the actual
			 highest and best use is exclusively agricultural unaffected by any other
			 use.
(G) Nothing contained in rules
			 5703-25-30 to
			 5703-25-36
			 of the Administrative Code shall be construed as an authorization for any
			 parcel, in any class, in any county, to be valued for tax purposes at any other
			 value than its "taxable value" as set out in rule
			 5703-25-06
			 of the Administrative Code, unless said parcel meets the qualifications of
			 sections 5713.30,
			 5713.31, and
			 5713.38 of the Revised Code.
Effective: 9/11/2017
Five Year
				Review (FYR) Dates: 6/26/2017 and
				09/11/2022
Promulgated
				Under: 119
Statutory Authority:
				5703.05
Rule
				Amplifies: 5713.01,
				5715.01
Prior
				Effective Dates: 11/29/74, 11/1/77,
				9/18/03