Generally speaking, anyone in business in Ohio is subject to tangible personal property tax on equipment, furniture, fixtures and inventory used in business.

The Tangible Personal Property Tax is distributed back to the local taxing districts in the same manner as real estate taxes.

Personal Property is assessed from the tax returns which are required to be filed. The Tax Commissioner is responsible for administering the Personal Property Tax laws; the County Auditor serves as a deputy for the Tax Commissioner in this capacity.

Every business operating in Ohio, with the exception of financial institutions and public utilities, must file a tangible personal property tax return annually with the Auditor. If the business operates in more than one county in Ohio, the return is filed directly with the Ohio Department of Taxation. The tax return must be filed between February 15 and April 30. The Auditor may grant an extension of up to forty-five days. If any tax is due, at least one-half must be paid within ten days of filing the return or ten days after the close of the filing season. If the return is not filed, the taxpayer may have a forced assessment levied against him/her. If the tax is not paid, a lien is placed upon the tangible personal property as well as the real property in the taxpayer’s name. A list of unpaid taxes and taxpayers is published annually in the local newspaper.