Due to the recent pandemic, Ohio Governor Mike DeWine recently signed Senate Bill (S.B.) 57 allowing commercial and industrial property owners an opportunity to contest their property values in the event that their real estate was impacted by COVID-19.
S.B. 57 opens the opportunity to file complaints challenging the properties’ valuation. This law allows appeals to be filed for the 2020 tax year as of the lien date of October 1, 2020 instead of the required January 1, 2020 lien date. Generally, an appeal may be filed only once during a triennial, but that restriction has been lifted allowing for multiple filings for 2020, 2021 and 2022.
The Bill will allow the Board of Revision to consider the negative impact that the pandemic has had on business operations. This is significant since most of the retail, food, and hospitality industry has been severely affected by restrictions brought on by the pandemic.
The appeal deadline to file a complaint is generally August 25, 2021 but varies by county. For example, Franklin County is allowing until September 2, 2021 to file. Complaints must provide information to demonstrate how the pandemic has directly affected the economic performance of the property, otherwise, the Board can dismiss.
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