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personal property tax

Many states assess a personal property tax on certain items of personal property such as motor vehicles, boats, and aircraft. Business personal property taxes—taxes on tangible personal property items that are used to produce income—are often referred to as ad valorem taxes.

In Ohio, personal property tax, also known as ad valorem tax, is no longer assessed on most types of personal property for individuals or businesses. This tax was phased out for general business filers after tax year 2008 through House Bill 66, which was enacted in 2005. However, public utilities are still subject to personal property tax in Ohio. Instead of personal property tax, Ohio businesses are subject to the Commercial Activity Tax (CAT), which is a tax on gross receipts from business activities in Ohio. It's important to note that while Ohio does not have a statewide personal property tax on vehicles, boats, or aircraft for individuals, there may be other forms of taxation that apply to these items, such as sales tax at the time of purchase and registration fees.

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Taxes

personal property tax

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Taxes

personal property tax

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