Ohio § 5709.71
Full text of Ohio Ohio Revised Code § 5709.71, with citation guidance and answers to common questions.
§ 5709.71.
(A) All real and tangible personal property owned by a port authority created prior to
the effective date of this section pursuant to section 4582.22 of the Revised Code and leased or otherwise made available to a railroad company, as defined in section 5727.01 of the Revised Code , for use in its railroad operations shall be exempt from taxation for ten years beginning
with the first year in which the property is so leased or otherwise made available. (B) The port authority shall make annual payments in lieu of taxes for all property that
is exempt from taxation under division (A) of this section. The payments shall be charged and collected in the same manner as the taxes that
would have been charged against the property if it were not exempt from taxation under
this section. The sum of the payments for each year shall equal one-tenth of the amount of taxes
that would have been charged and payable against the property for the year the payments
are due had this section not been in effect multiplied by the number of years for
which the property has been exempt from taxation under division (A) of this section. Moneys collected as payments in lieu of taxes shall be distributed at the same time
and in the same manner as real and public utility property tax payments in proportion
to the taxes levied by the taxing districts within which such payments are made is
located. (C) The exemption provided under division (A) of this section and liability for payments
under division (B) of this section shall first apply to property owned and leased
by a port authority in tax year 1983.
Frequently Asked Questions About Ohio § 5709.71
What does Ohio Revised Code § 5709.71 cover?
Section 5709.71 is part of the Ohio Revised Code, the codified statutory law of Ohio. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Ohio § 5709.71?
A common citation format is "Ohio Revised Code § 5709.71" (Ohio). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Ohio law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Ohio official source linked on this page or consult a licensed Ohio attorney.
How does Ohio § 5709.71 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Ohio can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Ohio.