Ohio Code 727.031 – Exemption from special assessments – nonprofit arts institutions
(A) As used in this section:
Terms Used In Ohio Code 727.031
- Population: means that shown by the most recent regular federal census. See Ohio Code 1.59
- Property: means real and personal property. See Ohio Code 1.59
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(1) “Nonprofit arts institution” has the same meaning as in division (G) of section 5709.121 of the Revised Code.
(2) “Qualifying real property” means any real property that is located in a county having a population greater than five hundred thousand but less than five hundred forty thousand and that is either (i) owned and operated by a nonprofit arts institution or (ii) owned and operated by a limited liability company whose sole member is a nonprofit arts institution.
(B) For tax years 2020 to 2024, qualifying real property is exempt from special assessments levied under Chapter 727. or 729. of the Revised Code, provided no delinquent special assessments and related interest and penalties are levied or assessed against any property owned by the owner and operator of the qualifying real property for that tax year.
Last updated July 14, 2021 at 5:24 PM