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S. B. No. 199 As IntroducedAs Introduced
128th General Assembly | Regular Session | 2009-2010 |
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Cosponsors:
Senators Cates, Seitz
A BILL
To amend section 5701.03 and to enact section
5713.031 of the Revised Code to define certain
golf course landscape features as personal
property for tax purposes, and to prescribe a
method of estimating the true value of
golf
courses for tax purposes.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF OHIO:
Section 1. That section 5701.03 be amended and section
5713.031 of the Revised Code be enacted to read as follows:
Sec. 5701.03. As used in Title LVII of the Revised Code:
(A) "Personal property" includes every tangible thing that
is
the subject of ownership, whether animate or inanimate,
including
a business fixture, and that does not constitute real
property as
defined in section 5701.02 of the Revised Code.
"Personal
property" also includes every share, portion, right, or
interest,
either legal or equitable, in and to every ship,
vessel, or boat,
used or designed to be used in business either
exclusively or
partially in navigating any of the waters within
or bordering on
this state, whether such ship, vessel, or boat is
within the
jurisdiction of this state or elsewhere. "Personal
property" does
not include money as defined in section 5701.04 of
the Revised
Code, motor vehicles registered by the owner thereof,
electricity,
or, for purposes of any tax levied on personal property,
patterns,
jigs, dies, or drawings that are held for use and not
for sale in
the ordinary course of business, except to the extent
that the
value of the electricity, patterns, jigs, dies, or
drawings is
included in the valuation of inventory produced for sale.
(B) "Business fixture" means an item of tangible personal
property that has become permanently attached or affixed to the
land or to a building, structure, or improvement, and that
primarily benefits the business conducted by the occupant on the
premises and not the realty. "Business fixture" includes, but is
not limited to, machinery, equipment, signs, cart paths, storage
bins and
tanks, whether above or below ground, and broadcasting,
transportation, irrigation, transmission, and distribution
systems, whether
above or below ground; and structures affixed to
or constructed over land that consist of soil and other natural
materials requiring regular maintenance, that primarily benefit
the business conducted on the premises, and that are depreciable
under 26 U.S.C. 167. "Business fixture" also means those
portions
of buildings, structures, and improvements that are
specially
designed, constructed, and used for the business
conducted in the
building, structure, or improvement, including,
but not limited
to, foundations and supports for machinery and
equipment.
"Business fixture" does not include fixtures that are
common to
buildings, including, but not limited to, heating,
ventilation,
and air conditioning systems primarily used to
control the
environment for people or animals, tanks, towers, and
lines for
potable water or water for fire control, electrical and
communication lines, and other fixtures that primarily benefit
the
realty and not the business conducted by the occupant on the
premises.
Sec. 5713.031. For purposes of section 5713.03 of the
Revised Code, when determining the true value in money of a golf
course property that has not been the subject of a recent arm's
length sale and for which appraisal as a golf course use is
justified as either the highest and best use or as a special
purpose use, the county auditor shall determine the true value
pursuant to division (A) or (B) of this section.
(A) For golf courses that operate primarily on a for-profit,
daily-fee basis, the true value in money shall be determined using
the income approach as described in the uniform rules and methods
of valuing and assessing real property as adopted, prescribed, and
promulgated by the tax commissioner. The value of all tangible and
intangible personal property that contributes to the net operating
income used in the income approach shall be deducted from the
resulting valuation in order to determine the true value in money
of the taxable property only. The capitalization rate used shall
reflect all anticipated risks of the golf course operation,
including weather-related risks and competition from golf courses
that are exempted from taxation. The county auditor of a county in
which a golf course is located may request the owner of the golf
course to provide income and expense data on a form prescribed by
the tax commissioner. No document containing data provided
pursuant to this division shall be deemed a public document or
record, but shall be a confidential document for use only in
assessing the taxable property and shall not be subject to
inspection or copying as public records pursuant to section 149.43
of the Revised Code. If an owner declines within thirty days of
such request to provide this data and the auditor is thereafter
unable to determine the true value in money of the taxable
property using the income approach, the property shall be valued
in accordance with division (B) of this section.
(B) For all other golf courses, the true value in money shall
be determined using the market data approach in combination with
the cost approach.
Section 2. That existing section 5701.03 of the Revised Code
is hereby repealed.
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