Click “Subscribe Now” to get attorney insights on the latest developments in a range of services and industries.
The Ohio General Assembly recently enacted Senate Bill 57 to account for the impacts of COVID-19 on real property valuations for the tax year 2020 (payable in 2021).
Under the new law, an eligible person may file a special 2020 valuation complaint with the relevant Board of Revision by alleging “with particularity” how COVID-19 and the corresponding public health orders caused a reduction in the true value of the property. Complaints may also request that the property be valued as of October 1, 2020, rather than the traditional tax lien date of January 1, 2020.
Eligibility to file a special valuation complaint extends to both property owners and tenants responsible for the taxes, and the multiple filing rule prohibiting more than one valuation complaint per three-year period is waived for 2020, 2021, and 2022.
The law offers a unique opportunity for commercial properties to reduce their tax bills; however, the window of time to act is short—complaints must be filed between July 26, 2021 and August 25, 2021.
Please contact our office as soon as possible if you would like to discuss whether pursuing a special valuation complaint may be beneficial to you.
- August 11, 2022 In the News David Mirazo and Michelle Esparza Join Dickinson Wright El Paso Office
- July 19, 2022 In the News Stephen Montgomery Joins Dickinson Wright Nashville Office
- July 12, 2022 In the News Monica J. Labe Named a ‘Go To Lawyer’ for Real Estate and Condo Law by Michigan Lawyers Weekly
- June 24, 2022 In the News Three Dickinson Wright Attorneys Recognized in Florida Super Lawyers
- June 13, 2022 In the News Dickinson Wright Recognized in Legal 500 United States 2022 Edition
- June 1, 2022 In the News Dickinson Wright Receives Top Rankings in 2022 Chambers USA Guide; 42 Attorneys Recognized as Leaders in their Fields
- April 11, 2022 In the News Elliot Vilders Joins Dickinson Wright Troy Office as a Member
- January 28, 2022 In the News Three Dickinson Wright Attorneys Named to 2022 Illinois Super Lawyers, Two Named Rising Stars
- January 4, 2022 In the News Three Dickinson Wright Attorneys Named to 2022 Ohio Super Lawyers, Three Named Rising Stars