Ohio Code § 5715.012

§ 5715.012.

The tax commissioner shall make sales-assessment ratio studies of sales and assessments

of real property for the purpose of determining the common level of assessment of

real property within the counties pursuant to section 5715.19 of the Revised Code and for the purpose of equalization.  Such studies shall be based solely on a representative sampling of sales provided

to the commissioner by the county auditor.  That sample shall include only open market arms' length sales occurring during the

three years prior to the tax year to which the sample is applied between a willing

seller to a willing buyer for a current like use within the class or classes of real

property sampled.  Where there are not sufficient arms' length sales to constitute a representative

sampling for such studies within a class, the auditor may also conduct appraisals

of real property in that class, which shall be a part of such studies. Such studies and other information of the commissioner may be used by the commissioner

as guidelines, where applicable, in the equalization of a class or classes of real

property.  Such studies or other information of the commissioner shall not be applied by the

commissioner on a taxing district, countywide, or statewide basis for the purpose

of equalization unless the auditor first finds there are sufficient arms' length sales

for a like use included in the sample in a class, or arms' length sales and appraisals

conducted by the auditor for a like use included in the sample in a class, to provide

an indication that said sales or sales and appraisals in the class are representative

of all parcels in the class. In addition, the commissioner shall make other studies of the value of real property

within the counties which may be used as guidelines, where applicable, in the equalization

of a class or classes of real property.