The Division of Tax Equalization seeks comments on proposed rule

The Ohio Department of Taxation Division of Tax Equalization proposes the following rule: 5703-25-20: Procedure for valuation of federally subsidized residential rental property.  

H.B. 33 amended Ohio Revised Code sections 5713.03 and 5715.01 and enacted section 5713.031. Under these provisions, the Tax Commissioner is required to prescribe rules for the valuation of federally subsidized residential rental property.  

The proposed rule is available at: https://tax.ohio.gov/professional/legal/rules . All comments regarding the proposed rule should be sent to TaxRules@tax.ohio.gov by March 1, 2024.