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# 6012 - OHIO: PERSONAL PROPERTY TAX
Included in the budget bill, (HB 66, 2005), was a provision to phase out all components of the tangible personal property tax -- inventory, furniture and fixtures, and machinery and equipment -- over a four-year period beginning in 2006.
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TANGIBLE PERSONAL PROPERTY TAX RATE CHANGES UNDER AM. SUB. HOUSE BILL 66 - EFFECTIVE JULY 1, 2005 |
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| Tax Year | Inventory | Machinery & Equipment | Furniture & Fixtures |
| 2005 | 23% * | Existing: 25% * | 25% * |
| 2006 | 18.75% |
New: Not taxable Existing: 18.75% |
18.75% |
| 2007 | 12.5% | New: Not taxable
Existing: 18.75% |
12.5% |
| 2008 | 6.25% |
New: Not taxable Existing: 18.75% |
6.25% |
| 2009 | No Tax | No Tax | No Tax |
| 2010 | No Tax | No Tax | No Tax |
| * Same as 2004 rates | |||
For history buffs, we have included the long history of the Association's efforts to eliminate personal property tax in FastFacts #6012a.
-- April 2006