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H. B. No. 401 As IntroducedAs Introduced
127th General Assembly | Regular Session | 2007-2008 |
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Cosponsors:
Representatives Hagan, R., Foley, McGregor, J., Stebelton, Okey, Williams, S., Williams, B., Letson, Celeste, Dodd, Budish, Evans, Otterman
A BILL
To enact section 5713.40 of the Revised Code to
partially exempt conservation easement property
from taxation.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF OHIO:
Section 1. That section 5713.40 of the Revised Code be
enacted to read as follows:
Sec. 5713.40. (A) As used in this section, "conservation
easement" or "agricultural easement" means a conservation easement
or agricultural easement as defined in section 5301.67 of the
Revised Code that is perpetual in duration and the instrument for
which is executed and recorded as other instruments conveying real
property interests.
(B) One-half of the taxable value of any tract, lot, or
parcel of real property, or any portion thereof, that is subject
to a conservation easement or agricultural easement shall be
exempt from property taxation if the property is not valued in the
current tax year at its current agricultural use value under
section 5713.31 of the Revised Code.
At any time after the first Monday of January and before the
first Monday of March in any tax year, the owner of land subject
to a conservation or agricultural easement may file an application
with the county auditor requesting that the land be partially
exempted from taxation as provided in this section. The county
auditor shall verify the existence and extent of the easement by
examining the recorded instrument and, if so verified, shall grant
the partial exemption to the whole or any part of such land that
is subject to the easement.
In determining the extent of land to be partially exempted
under this section, the county auditor may exclude any portion of
the land on which a homestead is situated or on which homesteads
are planned to be situated. The excluded portion for each
homestead shall be not less than the minimum agricultural
homestead area prescribed by any applicable zoning regulations or
one acre, whichever is greater.
Land partially exempted under this section may not be valued
at its current agricultural use value, and its taxable value shall
not be diminished to account for the existence of a conservation
easement as provided under section 5713.04 of the Revised Code.
Land subject to a conservation easement that is not partially
exempted under this section or valued at its current agricultural
use shall be valued for taxation by taking into account the
diminution in value as a result of the existence of the easement
as provided under section 5713.04 of the Revised Code.
Land partially exempted under this section shall continue to
be partially exempted for the tax year in which the exemption is
originally approved and all ensuing tax years, except as provided
in division (C) of this section.
(C) Land subject to a conservation or agricultural easement
shall not be partially exempted from taxation under this section
if the terms of the easement are violated or the use of the land
is otherwise not in compliance with those terms.
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