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| To exempt 10% of a homestead's value for tax year | 1 |
| 2009. | 2 |
| Section 1. To provide a partial exemption, for tax year 2009, | 3 |
| real property taxes on a homestead to which division (B) of | 4 |
| section 323.152 of the Revised Code applies shall be reduced by | 5 |
| the product of the following: | 6 |
| (1) Ten per cent of the true value of the property in money; | 7 |
| (2) The assessment percentage established by the tax | 8 |
| commissioner under division (B) of section 5715.01 of the Revised | 9 |
| Code, not to exceed thirty-five per cent; | 10 |
| (3) The effective tax rate used to calculate the taxes | 11 |
| charged against the property for the current year, where | 12 |
| "effective tax rate" is defined as in section 323.08 of the | 13 |
| Revised Code; | 14 |
| (4) The quantity equal to one minus the sum of the percentage | 15 |
| reductions in taxes received by the property for tax year 2009 | 16 |
| under section 319.302 of the Revised Code and division (B) of | 17 |
| section 323.152 of the Revised Code. | 18 |
| For purposes of the certification and payment provided under | 19 |
| section 323.156 of the Revised Code, the reduction provided by | 20 |
| this section shall be considered a reduction provided under | 21 |
| division (B) of section 323.152 of the Revised Code. | 22 |