New legislation should help provide property tax relief to Ohio businesses hardest hit by the COVID-19 pandemic, including hotels, restaurants, retail businesses, and other tourism-related companies.
Senate Bill 57 allows a special extended property valuation challenge process for tax year 2020. The special process is meant to account for decreases in property values caused by “a circumstance related to the COVID-19 pandemic or state COVID-19 orders.” Property owners can request their valuation be determined as of October 1, 2020, instead of January 1, 2020.
An appeal must include specific details of how a state order or COVID-19 related circumstance reduced the true value of the property. Challenges must be filed between August 3, 2021, and September 2, 2021.
Tenants may be able to file tax value complaints or counterclaims if they pay the entire amount of taxes charged against the property and their lease allows it.