A unit of measure, 1/1,000 milligram, milliliter, millimeter, etc. When talking about taxes, a mill is $1.00 in taxes for every $1,000 of assessed value.

In Ohio, the assessed value of real estate is 35% of the property’s estimated market value.

The sale price of real estate as agreed upon between a willing buyer and a willing seller, with neither being under any duress to either buy or sell.

Inside Millage is limited by law to 10 mills for any taxing district. Because they are inside mills, these 10 mills can be collected as a levy without being voted on by the people in the taxing district.

Outside millage is all other millage requested that is over the 10-mill limit. Outside mills must be voted upon and approved by the majority of the voters in the taxing district where the tax will be levied. Because of H.B. 920 (passed in 1976) there is a cap on the amount of money a levy can collect. That means a levy can collect no more in the future than it collects during the first year it's enacted.

Used to raise funds for any legal expenditure Most often used for day-to-day operation of school districts (books, salaries, supplies, equipment, building maintenance, etc.) May be either for a limited period or an indefinite period Revenue does not increase as market values increase Personal property and public utility valuation increases and decreases will produce more, or less, income respectively Levy renewal is at same effective tax rate Replacement levy is at original millage.

Similar in function to an Operating Levy Brings in a fixed (specific) amount of money for use for purposes of operation only Can run no more than five years An emergency resolution must be approved by voters Does not effect the county’s reduction factor Personal property and public utility valuation increases and decreases will not produce more, or less income respectively. Revenue does not increase as market values increase Levy renewal is at the same dollar amount. A replacement levy is not permitted Is exempt from the 20 mil floor limit

In the strict sense of the word, this levy does not actually replace a current levy. The reduction factor/millage is brought back to the original amount. Uses current market values to determine/set tax rates.

Keeps a current levy on the books The same amount of money will be collected as when the levy first took effect (was originally voted in)

Raises funds for a specific permanent improvement(s) (construction & repair of buildings, sidewalks, parking garages, etc.) Money is generated as it’s collected from taxpayers, therefore, no interest is paid on the money Limited to a period of five years or less. Levy renewal is at the same effective tax rate. A replacement levy is at the original millage.

Raises funds for permanent improvements (structures) to a district’s buildings & grounds or for immediate construction of a new building(s) Used to pay off debts Money can only be used for the purpose stated on the ballot (not for operating expenses) Bonds are sold in the amount approved, then money is used to pay for improvements Money is paid back with interest, usually over 20 or more years Exempt from the 20 mil floor limit.

The State of Ohio pays each subdivision (school, township, village, county board or district) for the portion of the taxes that are either “rolled back” or exempted. The rollback reduces the property taxes due by 10%. House Bill 66 eliminated the 10% discount for commercial property.

The 2 ½% exemption reduces the property’s taxes by that amount only if it is the person's primary residence as of January 1st. Owner's can only get this discount on one property within the United States.

Homestead exemption reduces the property taxes for owner's 65 years old and older who also meet the following requirements. The property must be the owner's primary residence as of January 1st and make under the income requirement. Owner's can only get this discount on one property within the United States. For further tax relief programs visit our property tax reductions page.