Ohio Tax Appeals Board Increases Taxpayer’s Property 2023 Property Valuation

The Ohio Board of Tax Appeals increased the valuation of taxpayer’s property located in Franklin County for tax year 2023. Taxpayer appealed against the Franklin County Board of Revision’s decision to retain the county auditor’s $31,823,400 valuation of the subject property, whereas the taxpayer sought a valuation of $60,000,000 based on a sale of the subject property. The dispute centered around whether a transfer of the property through an entity transfer constituted a valid sale for valuation purposes. The Board found that the evidence established the entity transfer as a legitimate sale, creating a rebuttable presumption of value in favor ...