Certain properties in Muskingum County are eligible for Tax Exemption. Examples of properties in the county that are already exempt are:
Substitute House Bill 50, 135th General Assembly requires county auditors to review exemption applications for pre-residential development property pursuant to R.C. 5709.56. "Pre-residential development property" means a subdivided parcel of unimproved real property on which construction of one or more residential buildings is planned but has not yet commenced. The construction of streets, sidewalks, curbs, or driveways or the installation of water, sewer, or other utility lines on a subdivided parcel does not cause construction of a residential building to commence for purposes of division (A)(1) or (B) of this section. "Pre-residential development property" does not include a parcel, any portion of the value of which is exempted from taxation under section 5709.40, 5709.41, 5709.73, or 5709.78 of the Revised Code.
The Ohio Community Reinvestment Area program is an economic development tool administered by municipal and county governments that provides real property tax exemptions for property owners who renovate existing or construct new buildings. This program permits municipalities or counties to designate areas where investment has been discouraged as a CRA to encourage revitalization of the existing housing stock and the development of new structures. Once an area is confirmed, communities may offer real property tax exemptions to taxpayers that invest in the area.
For information on Community Reinvestment Areas, you may visit the Ohio Department of Development's website.
Tax Increment Financing (TIF) is an economic development mechanism available to local governments in Ohio to finance public infrastructure improvements and, in certain circumstances, residential rehabilitation. TIFs are implemented at the local level and may be created by a township, municipality or county. Payments derived from the increased assessed value of any improvement to real property beyond that amount are directed toward a separate fund to finance the construction of public infrastructure defined within the TIF legislation.
For information on the Tax Increment Financing program, you may visit the Ohio Department of Development's website.
Enterprise Zone Agreements (EZA) are economic development tools administered by municipal and county governments that provide real and personal property tax exemptions to businesses making investments in the community. They are designated areas of land in which businesses can receive tax incentives in the form of tax exemptions on eligible new investment.
For information on Enterprise Zone Agreements, you may visit the Ohio Department of Development's website.