All tangible personal property is taxable when used in business. Taxes are based on the assessed value of the property and the tax rate for the taxing district where the property is located. This rate is the same as for real property, except that some reductions in the real property tax rates do not apply to personal property. This is a separate tax from a business’s real estate property tax.
Each taxpayer must file an annual tax return and list all taxable property as to ownership, valuation and taxing district. Every business entity must file an annual report, except for taxpayers with a valuation of less than $10,000. Tax returns must be filed between February 15 and April 30.
The county treasurer collects personal property taxes. Bills are due September 20.
Please contact the Ohio Department of Taxation for additional information.