In the case of accounts receivable, the book value thereof less book reserves shall be listed and shall be taken as the true value thereof unless the assessor finds that such net book value is greater or less than the then true value of such accounts receivable in money. In the case of personal property used in business, the book value thereof less book depreciation at such time shall be listed, and such depreciated book value shall be taken as the true value of such property, unless the assessor finds that such depreciated book value is greater or less than the then true value of such property in money. Claim for any deduction from net book value of accounts receivable or depreciated book value of personal property must be made in writing by the taxpayer at the time of making the taxpayer's return; and when such return is made to the county auditor who is required by sections 5711.01 to 5711.36, inclusive, of the Revised Code, to transmit it to the tax commissioner for assessment, the auditor shall, as deputy of the commissioner, investigate such claim and shall enter thereon, or attach thereto, in such form as the commissioner prescribes, the auditor's findings and recommendations with respect thereto; when such return is made to the commissioner, such claim for deduction from depreciated book value of personal property shall be referred to the auditor, as such deputy, of each county in which the property affected thereby is listed for investigation and report.
Any change in the method of determining true value, as prescribed by the tax commissioner on a prospective basis, shall not be admissible in any judicial or administrative action or proceeding as evidence of value with regard to prior years' taxes. Information about the business, property, or transactions of any taxpayer obtained by the commissioner for the purpose of adopting or modifying any such method shall not be subject to discovery or disclosure.
Progressive Plastics, Inc. v. Testa, 2012-Ohio-4759, 133 Ohio St. 3d 490. · cites it 13דConsistent with R.C. 5711.18, R.C. 5711.21, and the general proposition that the tax commissioner cannot confer the force of law on an accounting method without promulgating it as an administrative rule, we hold that the substitution of FIFO for LIFO was impermissible under the…”
Rich's Dep't Stores, Inc. v. Levin, 2010-Ohio-957, 125 Ohio St. 3d 15. · cites it 6דThat rule was promulgated to effectuate the general mandate that “depreciated book value shall be taken as the true value of such property, unless the assessor finds that such depreciated book value is greater or less than the then true value of such property in money.”
Avco Corp. v. Limbach, 555 N.E.2d 284 (Ohio 1990). · cites it 7דAppellee urges that the decision of the BTA should be affirmed because appellant failed to file claims, seeking deduction from book value, at the time the returns were filed, citing R.C. 5711.18. R.C. 5711.18 provides that the listed depreciated book value of personal property…”
Boothe Fin. Corp. v. Lindley, 452 N.E.2d 1295 (Ohio 1983). · cites it 2דThe method for determining true value is set forth in R.C. 5711.18, which provides, in pertinent part: “* * * In the case of personal property used in business, the book value thereof less book depreciation at such time shall be listed, and such depreciated book value shall be…”
Harsco Corp. v. Tracy, 712 N.E.2d 1249 (Ohio 1999). · cites it 2דHarsco, first, argues that the assessment process overstates the value of the inventory at the Astro Metallurgical division location and that the Tax Commissioner has authority under R.C. 5711.18 to adjust the assessments. Harsco claims that it does not challenge applying the…”
Gahanna Heights, Inc. v. Porterfield, 239 N.E.2d 30 (Ohio 1968). · cites it 4דSection 5711.18, Bevised Code, merely makes book value, used by appellant in its returns, prima facie evidence of the true value.”
Shiloh Auto., Inc. v. Levin, 117 Ohio St. 3d 4 (Ohio 2008). “{¶ 18} R.C. 5711.18 provides: {¶ 19} “In the case of personal property used in business, the * * * depreciated book value shall be taken as the true value of such property, unless the assessor finds that such depreciated book value is greater or less than the then true value of…”
Buckeye Int'l, Inc. v. Limbach, 595 N.E.2d 347 (Ohio 1992). “Paragraph one states: *268 “(1) The commissioner erred in failing to follow the general requirement of R.C. 5711.18 that in valuing ‘personal property used in business, the book value thereof less book depreciation at such time shall be listed, and such depreciated book value…”
Compuserve, Inc. v. Lindley, 535 N.E.2d 360 (Ohio Ct. App. 10th Dist. 1987). “2 R.C. 5711.18 requires that personal property be taxed at its true value.”
CC Leasing Corp. v. Limbach, 492 N.E.2d 421 (Ohio 1986). “Although “depreciated book value” is mandated as establishing true value by R.C. 5711.18, that section goes on to authorize the assessor to find “that such depreciated book value is greater or less than the then true value of such property in money.”
Gannett Satellite Info. Network, Inc. v. Limbach, 543 N.E.2d 1183 (Ohio 1989). · cites it 6ד08(A), and (II) whether R.C. 5711.18 requires that taxpayer’s taxable property be assessed for taxation based on its computed true value or based on its depreciated book value, an amount which exceeds its true value.”
Joseph & Feiss Co. v. Lindley, 463 N.E.2d 75 (Ohio Ct. App. 8th Dist. 1983). “” R.C. 5711.18 states that property used in business shall be listed at book (cost) value less book depreciation, unless this method is greater or less than the true value of the property: “In the case of personal property used in business, the book value thereof less book…”
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