Geauga County Auditor Charles E. Walder wants to remind owners of tax-exempt real property about their obligation to inform the county Auditor’s Office if their property no longer qualifies for exemption. It is mandated by Ohio law to ensure compliance with the necessary requirements.
According to a news release, Walder emphasized that taxation applies to all real property in Ohio. He highlighted the significance of exemptions as rare exceptions that help maintain fairness in the distribution of tax burdens.
Owners are now obligated by law to give notice if their property no longer qualifies for tax-exemption. The Auditor’s Office must be informed using a form provided by the Ohio Tax Commissioner, failure to do so will result in a monetary penalty, according to the release.
The Auditor’s Office must receive the notification before December 31 of the year when the property no longer qualifies for exemption.
“Benefiting from an exemption that is not lawful is morally wrong, no matter how you analyze it,” expressed Walder in the press release. “Illegally exempting a property from taxation only results in shifting a greater tax burden onto the rest of the community.”
Failure to notify the Auditor’s Office of the property’s ineligibility for exemption will result in a penalty equal to the total amount by which taxes were reduced during any of the previous five tax years.
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