Ohio Code § 5711.21

§ 5711.21.

(A) In assessing taxable property the assessor shall be governed by the rules of assessment

prescribed by sections 5711.01 to 5711.36 of the Revised Code .  Wherever any taxable property is required to be assessed at its true value in money

or at any percentage of true value, the assessor shall be guided by the statements

contained in the taxpayer's return and such other rules and evidence as will enable

the assessor to arrive at such true value.  Wherever the income yield of taxable property is required to be assessed, and the

method of determining between income and return or distribution of principal, or that

of allocating expenses in determining net income, or that of ascertaining the source

from which partial distributions of income have been made is not expressly prescribed

by sections 5711.01 to 5711.36 of the Revised Code , the assessor shall be guided by the statements contained in the taxpayer's return

and such general rules as the tax commissioner adopts to enable the assessor to make

such determination. (B) For tax years before tax year 2009, the true value of the boilers, machinery, equipment,

and any personal property used to generate or distribute the electricity shall be

the sum of the following: (1) The true value of the property as it would be determined under this chapter if none

of the electricity were distributed to others multiplied by the per cent of the electricity

generated in the preceding calendar year that was used by the person who generated

it;  plus (2) The true value of the property that is production equipment as it would be determined

for an electric company under section 5727.11 of the Revised Code multiplied by the per cent of the electricity generated in the preceding calendar

year that was not used by the person who generated it;  plus (3) The true value of the property that is not production equipment as it would be determined

for an electric company under section 5727.11 of the Revised Code multiplied by the per cent of the electricity generated in the preceding calendar

year that was not used by the person who generated it. (C) For tax years before tax year 2009, the true value of personal property leased to

a public utility or interexchange telecommunications company as defined in section 5727.01 of the Revised Code and used by the utility or interexchange telecommunications company directly in the

rendition of a public utility service as defined in division (P) of section 5739.01 of the Revised Code shall be determined in the same manner that the true value of such property is determined

under section 5727.11 of the Revised Code if owned by the public utility or interexchange telecommunications company.