Ohio Code § 5709.01

§ 5709.01.

(A) All real property in this state is subject to taxation, except only such as is expressly

exempted therefrom. (B) Except as provided by division (C) of this section or otherwise expressly exempted

from taxation: (1) All personal property located and used in business in this state, and all domestic

animals kept in this state and not used in agriculture are subject to taxation, regardless

of the residence of the owners thereof. (2) All ships, vessels, and boats, and all shares and interests therein, defined in section 5701.03 of the Revised Code as personal property and belonging to persons residing in this state, and aircraft

belonging to persons residing in this state and not used in business wholly in another

state, other than aircraft licensed in accordance with sections 4561.17 to 4561.21 of the Revised Code , are subject to taxation. (C) The following property of the kinds mentioned in division (B) of this section shall

be exempt from taxation: (1) Unmanufactured tobacco to the extent of the value, or amounts, of any unpaid nonrecourse

loans thereon granted by the United States government or any agency thereof. (2) Spirituous liquor, as defined in division (B)(5) of section 4301.01 of the Revised Code , that is stored in warehouses in this state pursuant to an agreement with the division

of liquor control. (3) Except as otherwise provided in section 5711.27 of the Revised Code , all other such property if the aggregate taxable value thereof required to be listed

by the taxpayer under Chapter 5711. of the Revised Code does not exceed ten thousand

dollars. (a) If the taxable value of such property exceeds ten thousand dollars only such property

having an aggregate taxable value of ten thousand dollars shall be exempt. (b) If such property is located in more than one taxing district as defined in section 5711.01 of the Revised Code , the exemption of ten thousand dollars shall be applied as follows: (i) The taxable value of such property in the district having the greatest amount of

such value shall be reduced until the exemption has been fully utilized or the value

has been reduced to zero, whichever occurs first; (ii) If the exemption has not been fully utilized under division (C)(3)(b)(i) of this

section, the value in the district having the second greatest value shall be reduced

until the exemption has been fully utilized or the value has been reduced to zero,

whichever occurs first; (iii) If the exemption has not been fully utilized under division (C)(3)(b)(ii) of this

section, further reductions shall be made, in repeated steps which include property

in districts having declining values, until the exemption has been fully utilized. (D) All property mentioned as taxable in this section shall be entered on the general

tax list and duplicate of taxable property.