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Form 8825 for Franklin Ohio: What You Should Know

And Revised Section 8.1203.1 (2) Form 8825— Ohio Revised Code — Revised Section 5813.051 and Revised Section 8.1203.1 (2) In  (2) (a) (III). “ The board shall adopt rules for the implementation of this subsection (2) and (4).” (5) The board may also adopt policies to govern what constitutes an “economic factor” in determining property's fair market value.   “A single factor that is likely to influence the market value of the property and which is not related to any other factors is a material factor that should be taken into account in determining the fair market value of a property. This policy may be implemented by an action taken by the board under section 5813.051, or by a rule or regulation adopted by the board, in accordance with the Ohio Revised Code.” I don't have an actual document describing the requirements under this section, but I believe that the following language seems to be consistent with the statute. (5) A single factor that is likely to influence the market value of a property  That's what will be determined for real property and the board of revision can set up a procedure that would allow it to use their best information for this calculation. The Board's decision shall be final, but a written explanation of the reasons for the decision shall be provided to the parties to the decision. The decision of the board shall be reported to the Joint Legislative Budget committee, the Committee on Government Operations, and the Committee on Governance and Finance. (5) A single factor that is likely to  influence the market value of a property. In short, the board could set a specific formula on a county level to determine fair market value, and they could decide that anyone, not just corporations, could claim property. The Board should also inform the public about the procedures for correcting errors to real property. I believe that this would be important even if it was only a 30,000 error in one house. In summary: I'm not a lawyer, but I'm pretty sure that the board did not pass the bill with this language. If this is not a legal requirement, then the board did not have the authority to pass it. The board can't change the rules when it can't change the law.

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