Legal-Ease: Real estate taxes and breaks

Lee R. Schroeder is an Ohio licensed attorney with Schroeder Law LLC in Ottawa. He limits his practice to business, real estate, estate planning and agriculture issues in northwest Ohio. He can be reached at [email protected] or at (419) 523-5523. This article is not intended to serve as legal advice, and specific advice should be sought from the licensed attorney of your choice based upon the specific facts and circumstances that you face.

Whether or not you use or make money on real estate, you pay taxes on that real estate every year. Ohio has been taxing real estate based upon the value of the real estate since the year 1825. Government entities, churches and charities often do not have to pay real estate taxes. There are four main ways that businesses and people can get a bit of relief from real estate taxes.

An old adage recites that the only two certainties in life are death and taxes. If you own real estate in Ohio, you pay tax on that real estate every year, whether or not you use, occupy or make money from that property. Ohio has taxed real estate based upon the value of real estate since 1825.

Understandably, most government entities are not required to pay real estate taxes in Ohio. Churches and charities that own real estate do not have to pay real estate tax on property that is used exclusively for religious or charitable uses. If a building is ever used for purposes other than charity or religious activities, the building will be subject to real estate taxation.

Read more about real estate taxes and the breaks that may come with them in Lee’s article in the Lima News here: Legal-Ease: Real estate taxes and breaks

Source: LimaOhio.com, “Legal-Ease: Real estate taxes and breaks,” by Lee R. Schroeder, January 2, 2015

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