The bill introduced in the 136th General Assembly seeks to amend various sections of the Revised Code concerning property taxation of farmland, with a particular emphasis on the valuation and assessment of agricultural land. Key provisions include the requirement for tax bills to clearly indicate "CAUV savings," which reflects the tax savings for properties valued based on their current agricultural use. Additionally, county auditors and treasurers are mandated to post property tax percentage information on their websites. The bill also clarifies definitions related to land used exclusively for agricultural purposes, including provisions for land that has been idle due to disaster declarations and the inclusion of non-contiguous parcels as part of a single agricultural operation.

Moreover, the bill introduces new definitions and provisions regarding agricultural land valuation and conservation practices, such as defining "biologically derived methane gas," "biomass energy," and "eligible conservation land." It establishes that land used for conservation practices will be valued at the lowest soil type value for tax purposes. The application process for agricultural land valuation is streamlined by eliminating the distinction between initial and renewal applications, allowing for electronic submissions, and requiring auditors to notify property owners of their land's valuation status. The bill also mandates detailed notices regarding soil types and agricultural use values during reappraisals and repeals several existing sections of the Revised Code, with the amendments taking effect for tax years beginning after the legislation's effective date.

Statutes affected:
As Introduced: 323.131, 5713.03, 5713.30, 5713.31, 5713.32, 5713.351, 5713.36