Ohio2026Passed Legislature

HB124

Changes to Property Tax Sales-Assessment Ratio Studies

Last scannedAug 25, 2026, 4:32 AM

In one sentence

This law updates how Ohio officials calculate property tax values by changing rules for sales data, allowing appraisals when needed, and setting new appeal deadlines.

Requires the tax commissioner to base ratio studies only on open market arms' length sales from willing buyers and sellers within three years prior to the tax year.
Allows auditors or commissioners to conduct property appraisals if there are not enough recent sales in a specific property class to create a representative sample.
Sets new appeal rules where either the county auditor can challenge changes made by the commissioner, or the commissioner can challenge which sales an auditor included in their data sample.
Requires appeals to be filed within 30 days and mandates that the Board of Tax Appeals decides cases by the last day of the tax year.
Withholds half of state revenue shares from counties if auditors fail to submit adjusted property records within 90 days after receiving a statement or an appeal decision.

The text does not specify the exact dollar amount or total number of properties affected by these changes.
It is unclear how many counties currently lack sufficient sales data to require appraisals under the new rules.
The provided bill excerpt ends before fully describing all steps for releasing withheld funds after compliance.

Plain language

Sales-assessment ratio study: A review comparing actual sales prices to assessed property values to ensure fair taxation.
Arms' length sale: An open market transaction between a willing buyer and seller for current like use, reflecting true market value.
Board of Tax Appeals: The state agency that hears disputes regarding property tax assessments and valuations.

Official record

Source attached

Modify process for property tax sales-assessment ratio studies

Official activity