In Ohio, personal property tax is charged on machinery, equipment and inventory used in business. Each year, businesses are required to file a return by April 30th or June 15th, if an extension is obtained on or before April 30th. Businesses with locations in more than one county file with the Ohio Department of Taxation and are not required to make payment until September 20. A business located in just one county must
file with the county auditor and pay half by May 10 (or June 15 if extended) and the balance by September 20. New businesses are required to file a return within 90 days of start up. Every business is eligible for an exemption of the first $10,000 of assessed value. However, if a business fails to timely file, half the exemption is lost. Taxes are calculated on 25% of the true value multiplied by the full tax rate of the taxing district in which the property is located.