4503.068 Reimbursing county for reduction.

On or before the second Monday in September of each year, the county treasurer shall total the amount by which the taxes levied in that year were reduced pursuant to section 4503.067 of the Revised Code, and certify that amount to the tax commissioner. Within ninety days of the receipt of the certification, the commissioner shall certify that amount to the director of budget and management and the director shall make two payments from the general revenue fund in favor of the county treasurer. One shall be in the full amount by which taxes were reduced. The other shall be in an amount equal to two per cent of such amount and shall be a payment to the county auditor and county treasurer for the costs of administering sections 4503.064 to 4503.069 of the Revised Code.

Immediately upon receipt of the payment in the full amount by which taxes were reduced, the full amount of the payment shall be distributed among the taxing districts in the county as though it had been received as taxes under section 4503.06 of the Revised Code from each person for whom taxes were reduced under sections 4503.064 to 4503.069 of the Revised Code.

Effective Date: 03-17-1989; 2006 HB699 03-29-2007