Ohio Legislation Would Value LIHTC Property at Market-Rent Level

Wednesday, February 20, 2019 - 3:15pm

Legislation introduced in the Ohio Legislature would require subsidized residential rental property to be valued by county auditors according to the market-rent value, not the contract-rent value. SB36 specifically includes low-income housing tax credit (LIHTC)-financed property, which would increase the property tax for LIHTC property. The bill was assigned today to the Senate Ways and Means Committee.