Real estate taxes in Ohio operate under a unique structure. Real estate taxes are defined in terms of “mills,” which are created through local governments or through residents’ votes for “levies.” Mills and millage are understood to be a percentage of the property value. The calculation process is much more complex, though, because real estate tax levies can fall under two different categories.
In the first category of real estate levies, millage is calculated as a percentage of the property value. In the second category of real estate tax levies, the levies are defined as mills, but they’re capped at the total dollar amount of money that the levy brings in during its first year.