Ohio § 5703.80

§ 5703.80.

There is hereby created in the state treasury the property tax administration fund.  All money to the credit of the fund shall be used to defray the costs incurred by

the department of taxation in administering the taxation of property and the equalization

of real property valuation. Each fiscal year between the first and fifteenth days of July, the tax commissioner

shall compute the following amounts for the property in each taxing district in each

county, and certify to the director of budget and management the sum of those amounts

for all taxing districts in all counties: (A) For fiscal year 2020 and thereafter, an amount not to exceed twenty-five hundredths

of one per cent of the total amount by which taxes charged against real property on

the general tax list of real and public utility property were reduced under section 319.302 of the Revised Code for the preceding tax year; (B) For fiscal year 2020 and thereafter, an amount not to exceed forty-five hundredths

of one per cent of the total amount of taxes charged and payable against public utility

personal property on the general tax list of real and public utility property for

the preceding tax year and of the total amount of taxes charged and payable against

tangible personal property on the general tax list of personal property of the preceding

tax year and for which returns were filed with the tax commissioner under section 5711.13 of the Revised Code . In computing the amounts described in divisions (A) and (B) of this section, the commissioner

shall base the actual percentages charged in any fiscal year on the estimated costs

incurred by the department of taxation in administering the taxation of property and

the equalization of real property valuation for that fiscal year. After receiving the tax commissioner's certification, the director of budget and management

shall transfer from the general revenue fund to the property tax administration fund

the amount certified or a lesser amount based on the availability of cash balances

in the property tax administration fund to cover required expenditures. On or before the thirtieth day of June of the fiscal year, the tax commissioner shall

certify to the director of budget and management the sum of the amounts by which the

amounts computed for a taxing district under this section exceeded the distributions

to the taxing district under division (F) of section 321.24 of the Revised Code , and the director shall transfer that sum from the property tax administration fund

to the general revenue fund.