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On April 27, 2021, Governor Mike DeWine signed the unprecedented Ohio Senate Bill 57 into law. This new law allows an owner or tenant of an income-producing property impacted by COVID-19 (or by state orders associated with COVID-19) to file a “special” property tax valuation complaint. Property tax bills are generally calculated as of January 1 of each year. However, since COVID-19 did not impact Ohio businesses until around March 2020, a January 1 tax lien date does not take its challenging effects into account.
Did you recently get slapped with a surprisingly high property tax bill? Consider applying for a reduction of your property’s taxable value at your county’s board of revision. Your property tax bill is calculated as a percentage of the auditor’s assessed value of your property. Every three years, Ohio county auditors re-assess the values of all residential and commercial properties in their counties.
The Consolidated Appropriations Act, 2021 was signed into law on December 27, 2020. This spending bill provides $900 billion in stimulus relief for the COVID-19 pandemic, including $284 billion for the SBA’s Paycheck Protection Program (PPP) for new and previous borrowers under the Economic Aid Act.
