(1)(a) A dwelling, including a unit in
a multiple-unit | 48 |
|
dwelling
and a manufactured home or
mobile home taxed as real | 49 |
|
property
pursuant to division (B) of
section 4503.06 of the | 50 |
|
Revised Code,
owned and
occupied as a
home by an individual whose | 51 |
|
domicile is in
this state and who has
not acquired ownership from | 52 |
|
a person, other
than the
individual's spouse,
related by | 53 |
|
consanguinity or affinity
for the purpose of
qualifying for a | 54 |
|
property tax payment linked
deposit program. | 55 |
| (2) The homestead shall include
so much of the land | 59 |
|
surrounding
it, not exceeding one acre, as is
reasonably necessary | 60 |
|
for the use
of the dwelling or unit as a
home. An owner includes a | 61 |
|
holder of
one of the several
estates in fee, a vendee in | 62 |
|
possession under a
purchase
agreement or a land contract, a | 63 |
|
mortgagor, a life tenant,
one or more tenants
with a right of | 64 |
|
survivorship, tenants in
common, and a settlor of
a revocable or | 65 |
|
irrevocable inter vivos trust holding the
title to a homestead | 66 |
|
occupied by the settlor as of right under the
trust. | 67 |
| (1) Old age
benefits
payable under the social security or | 81 |
|
railroad retirement
laws in
effect on the last day of the calendar | 82 |
|
year prior to the
year for
which a reduced rate loan under a | 83 |
|
property tax payment linked deposit program is applied for, or, if | 84 |
|
no such
benefits are payable that year, old age benefits payable | 85 |
|
the first
succeeding year in which old age benefits under the | 86 |
|
social
security or railroad retirement laws are payable, except
in | 87 |
|
those
cases where a change in social security or railroad | 88 |
|
retirement
benefits results in a reduction in income. | 89 |
| (I) "Permanently and totally disabled" means a person who, on | 109 |
|
the first day of January of the year that a reduced rate loan | 110 |
|
under a property tax payment linked deposit program is applied | 111 |
|
for, has some impairment in body or mind
that makes the person | 112 |
|
unable to work at any substantially
remunerative
employment that | 113 |
|
the person reasonably is able to
perform
and
that will,
with | 114 |
|
reasonable probability, continue for
an indefinite period of
at | 115 |
|
least twelve months without any present
indication of recovery | 116 |
|
therefrom or has been certified as
permanently and totally | 117 |
|
disabled by a state or federal agency
having the function of so | 118 |
|
classifying persons. | 119 |
| (L) "Total income" means the adjusted gross income of the | 128 |
|
owner and the owner's spouse for the year preceding the year
in | 129 |
|
which
application for a reduced rate loan under a property tax | 130 |
|
payment linked deposit program is made, as determined
under
the | 131 |
|
"Internal Revenue Code of 1986," 100 Stat. 2085, 26
U.S.C.A.
1, as | 132 |
|
amended, adjusted as follows: | 133 |
| (a) If the person received disability benefits that were not | 152 |
|
included in adjusted gross income in the year preceding the first | 153 |
|
year in
which the person applied for a reduced rate loan on the | 154 |
|
basis of
age, subtract an
amount equal to the disability benefits | 155 |
|
the
person received in that preceding
year, to the extent included | 156 |
|
in
total income in the current year and not
subtracted under | 157 |
|
division
(L)(1) of this section in the current year; | 158 |
| (b) If the person received disability benefits that were | 159 |
|
included
in adjusted gross income in the year preceding the first | 160 |
|
year in which the
person applied for a reduced rate loan on the | 161 |
|
basis of
age, subtract an amount equal
to the amount of disability | 162 |
|
benefits
that were subtracted pursuant to division
(L)(1) of this | 163 |
|
section
in that preceding year, to the extent included
in total | 164 |
|
income in
the current year and not subtracted under division | 165 |
|
(L)(1) of this
section in the current year. | 166 |
(1)(a) A dwelling, including a unit in
a multiple-unit | 174 |
|
dwelling
and a manufactured home or
mobile home taxed as real | 175 |
|
property
pursuant to division (B) of
section 4503.06 of the | 176 |
|
Revised Code,
owned and
occupied as a
home by an individual whose | 177 |
|
domicile is in
this state and who has
not acquired ownership from | 178 |
|
a person, other
than the
individual's spouse,
related by | 179 |
|
consanguinity or affinity
for the purpose of
qualifying for the | 180 |
|
real property tax reduction
provided in
section 323.152 of the | 181 |
|
Revised Code. | 182 |
| (2) The homestead shall include
so much of the land | 186 |
|
surrounding
it, not exceeding one acre, as is
reasonably necessary | 187 |
|
for the use
of the dwelling or unit as a
home. An owner includes a | 188 |
|
holder of
one of the several
estates in fee, a vendee in | 189 |
|
possession under a
purchase
agreement or a land contract, a | 190 |
|
mortgagor, a life tenant,
one or more tenants
with a right of | 191 |
|
survivorship, tenants in
common, and a settlor of
a revocable or | 192 |
|
irrevocable inter vivos trust holding the
title to a homestead | 193 |
|
occupied by the settlor as of right under the
trust. The tax | 194 |
|
commissioner shall adopt rules for the uniform
classification and | 195 |
|
valuation of real property or portions of real
property as | 196 |
|
homesteads. | 197 |
| (C) "Permanently and totally disabled" means a person who | 201 |
|
has, on
the first day of January of the year of application for | 202 |
|
reduction
in real estate taxes, some impairment in body or mind | 203 |
|
that makes
the person unable to work at any substantially | 204 |
|
remunerative
employment that the person is reasonably able to | 205 |
|
perform
and
that
will,
with reasonable probability, continue for | 206 |
|
an indefinite
period of
at least twelve months without any | 207 |
|
present
indication of
recovery
therefrom or has been certified as | 208 |
|
permanently and
totally
disabled by a state or federal agency | 209 |
|
having the function
of so
classifying persons. | 210 |
| (B) Not later than the first day of May each year, any | 222 |
|
nonprofit
corporation that owns and operates a housing cooperative | 223 |
|
shall determine the
amount of property taxes it paid for the | 224 |
|
housing cooperative for the preceding
tax year and shall attribute | 225 |
|
to each homestead in the housing cooperative a
portion of the | 226 |
|
total property taxes as if the homestead's
occupant paid the | 227 |
|
taxes. The taxes attributed to each homestead
shall be based on | 228 |
|
the percentage that the square footage of the
homestead is of the | 229 |
|
total square footage of the housing
cooperative and on other | 230 |
|
reasonable factors that reflect the value
of the homestead. Not | 231 |
|
later than the fifteenth day of May each
year, the corporation | 232 |
|
shall file this information with the county auditor,
along with | 233 |
|
any
applications submitted to it under division (A) of section | 234 |
|
323.153
of the Revised Code. No nonprofit corporation that owns | 235 |
|
and
operates a housing cooperative shall fail to file with the | 236 |
|
county auditor
the information required by this division and | 237 |
|
division (A)
of section 323.153 of the Revised Code. | 238 |
| (C) On or before the day the county auditor has completed the | 239 |
|
duties imposed by sections 319.30 to 319.302 of the Revised
Code, | 240 |
|
the auditor shall issue a certificate of reduction in taxes for | 241 |
|
each applicant who has complied with section 323.153
of the | 242 |
|
Revised Code and whose homestead the auditor finds is
entitled to | 243 |
|
a
reduction in real property taxes for that year under division | 244 |
|
(A)
of section 323.152 of the Revised Code. The county auditor | 245 |
|
shall
calculate the taxable value of each applicant's homestead as | 246 |
|
if the homestead
was owned by the applicant and shall use the | 247 |
|
information provided
by the nonprofit corporation under division | 248 |
|
(B) of this section to
determine the reduction in taxable value to | 249 |
|
be attributed to the
homestead. | 250 |
| The certificate shall state the taxable value, on the first | 251 |
|
day of
January of that year, attributed to each homestead in the | 252 |
|
housing
cooperative; the reduction in taxable value and reduction | 253 |
|
in taxes attributed
to the
homestead; the total amount of the | 254 |
|
reduction in taxable value for
the housing cooperative based on | 255 |
|
all certificates issued under
this section for homesteads in the | 256 |
|
housing cooperative; the
nonprofit corporation's total reduction | 257 |
|
in taxes for that year
under division (A) of section 323.152 of | 258 |
|
the Revised
Code; the tax
rate that is applicable against the | 259 |
|
housing cooperative for that year; and any
other information the | 260 |
|
tax commissioner requires. The county auditor shall
prepare three | 261 |
|
copies of the original certificate. Upon the issuance of such a | 262 |
|
certificate, the county auditor shall forward two copies and the | 263 |
|
original to the county treasurer and retain one copy. The county | 264 |
|
auditor also shall record the amount of reduction in taxes in the | 265 |
|
appropriate column on the general tax list and duplicate of real | 266 |
|
and public utility property. | 267 |
| (D) On receipt of the notice from the county auditor under | 268 |
|
division (C) of this section, the nonprofit corporation that owns | 269 |
|
and operates the housing cooperative shall reduce the monthly | 270 |
|
maintenance fee
for each homestead
for which an applicant received | 271 |
|
a certificate of reduction under
this section for the year | 272 |
|
following the year for which the certificate was
issued. The | 273 |
|
reduction in the monthly maintenance fee
shall equal one-twelfth | 274 |
|
of the reduction in taxes
attributed to the homestead by the | 275 |
|
county auditor under division
(C) of this section. | 276 |
| (E) If an application, late application, or continuing | 277 |
|
application is not approved, or if the county auditor otherwise | 278 |
|
determines that a homestead does not qualify for a reduction in | 279 |
|
taxes under division (A) of section 323.152 of the Revised
Code, | 280 |
|
the auditor shall notify the applicant, and the nonprofit | 281 |
|
corporation that
owns
and operates the housing cooperative, of the | 282 |
|
reasons for denial not later than
the
first Monday in October. If | 283 |
|
the applicant believes that the
application for reduction has been | 284 |
|
improperly denied, or the nonprofit
corporation that owns and | 285 |
|
operates the housing cooperative
believes that the reduction is | 286 |
|
for less than that to which the
housing cooperative is entitled, | 287 |
|
the applicant or housing
cooperative, respectively, may file an | 288 |
|
appeal with the county
board of revision not later than the date | 289 |
|
of closing of the
collection for the first half of real and public | 290 |
|
utility property
taxes. The appeal shall be treated in the same | 291 |
|
manner as a
complaint relating to the valuation or assessment of | 292 |
|
real property
under Chapter 5715. of the Revised Code. | 293 |