If nonproductive land is subsequently included within an impacted cities project, as defined in section 1728.01 of the Revised Code, taxes on the land in the base period of the year immediately preceding the initial acquisition, as provided in section 1728.111 of the Revised Code, shall be determined by applying the land valuation as it existed in either the year preceding such initial acquisition, or in the next succeeding year after such nonproductive land is sold pursuant to section 5722.07 or 5722.13 of the Revised Code, whichever valuation is greater.

Terms Used In Ohio Code 5722.14

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Nonproductive land: means any parcel of delinquent vacant land with respect to which a foreclosure and forfeiture proceeding pursuant to section 5721. See Ohio Code 5722.01

This section does not apply to nonproductive land acquired and held by a county land reutilization corporation.

  Previous section
Next section  
 Chapter 5722 Contents