The bill amends sections 5715.012, 5715.16, 5715.251, and 5715.26 of the Revised Code to update the process for conducting property tax sales-assessment ratio studies in Ohio. Key changes include stipulating that the tax commissioner must base these studies solely on a representative sampling of sales provided by the county auditor, which must consist of open market arms' length sales occurring within the three years prior to the tax year in question. Additionally, the auditor is now responsible for conducting appraisals if there are insufficient arms' length sales to create a representative sample. The bill also clarifies the appeals process regarding determinations made by the tax commissioner and the county auditor, specifying the roles of each party involved in the appeals.

Furthermore, the bill introduces new provisions regarding the consequences of non-compliance by the county auditor in submitting adjusted property abstracts, including withholding state revenue distributions until compliance is achieved. It also establishes that the board of tax appeals will have exclusive jurisdiction over appeals related to the sales-assessment ratio studies. The amendments will take effect for tax year 2026 and subsequent years, while existing sections of the law are repealed to accommodate these changes.

Statutes affected:
As Introduced: 5715.012, 5715.251, 5715.26
As Reported By House Committee: 5715.012, 5715.16, 5715.251, 5715.26
As Passed By House: 5715.012, 5715.16, 5715.251, 5715.26
As Reported By Senate Committee: 5715.012, 5715.16, 5715.251, 5715.26
As Passed By Senate: 5715.012, 5715.16, 5715.251, 5715.26
As Enrolled: 5715.012, 5715.16, 5715.251, 5715.26