Ohio:What does CAUV reform mean for me?

The property tax reforms that Ohio farmers and farm groups sought over the past three years are just a few weeks from taking effect. The law itself becomes effective Sept. 30, and the reforms will be phased in over the next six years of assessments. It is estimated landowners will see an average of 30 percent savings beginning with the 2017 reassessments, with full savings realized after six years.Most recently, CAUV reform refers to changes included in the 2017 state budget bill that ensure all the factors in the CAUV calculation tie directly to the agricultural economy, making for a more accurate CAUV valuation. An earlier set of reforms were adopted by the Ohio Department of Taxation in 2015, which resulted in about a $10-per-acre savings.