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New York State Property Taxes Article
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An Overview of Ohio State Taxes
from:The state of Ohio, otherwise known as the Buckeye’s State, has continued to phase down its state income taxes rates in 2006. The top rate is now 6.87 percent, down from 7.185 percent in 2005. The across-the-board rate cuts are scheduled to continue until 2009. Here are more details about Ohio State taxes:
1) Personal Income Tax
Ohio collects income taxes from its residents at the following rates:
- 0.681% on the first $5,000 of taxable income
- 1.361% on taxable income between $5,001 and $10,000
- 2.722% on taxable income between $10,001 and $15,000
- 3.403% on taxable income between $15,001 and $20,000
- 4.083% on taxable income between $20,001 and $40,000
- 4.764% on taxable income between $40,001 and $80,000
- 5.444% on taxable income between $80,001 and $100,000
- 6.32% on taxable income between $100,001 and $200,000
- 6.87% on taxable income of $200,001 and above.
Returns of Ohio State taxes are due on April 15, or the next business day if that date falls on a weekend or holiday. Several cities also levy municipal income taxes. Ohio State taxes the income of school districts that is separated from federal, state and municipal income taxes. School district income taxes are collected through employers’ withholding, individual quarterly estimated payments and annual returns. The money is earmarked specifically to support school districts. If you live in a school district that collects an income tax at any time during the tax year, you must file an Ohio Form SD 100.
2) Sales Tax
On July 1, the state sales tax rate was cut from 6 percent to 5.5 percent. Regional transit authorities may also levy sales tax in multiples of 0.25 percent up to a maximum additional tax of 1.5 percent. The total combined rate for state, county and transit authority may not exceed 8.5 percent.
3) Personal and Real Property Taxes
Tangible personal properties used in business are taxed. However, this tax is being phased out and it is scheduled for elimination in 2009. The state's Property Tax Administration Fund was created to cover the costs incurred by the Department of Taxation in administering local property tax programs. The 10 percent property tax rollback on most commercial and industrial real properties was eliminated in 2005. However, the rollback remains for residential and agricultural real properties.
4) Inheritance and Estate Taxes
Ohio has no inheritance tax because the federal tax law totally revoked the federal credit allowed for state death taxes for dates of death occurring on or after January 1, 2005.
Other facts about Ohio State Taxes
The Ohio Department of Taxation offers numerous online options to its residents, including online filing of Ohio State taxes for personal income as well as school district income tax returns. Taxpayers can go online to check the status of their refunds.
New York State Property Taxes News
Analysis: Property taxes give NY Westchester edge over peers - Reuters
Analysis: Property taxes give NY Westchester edge over peers Reuters One secret lies in Westchester's higher and steadier stream of property taxes, analysts say. Rockland County, which lies north of New York City and has a population just one third that of Westchester, and larger Nassau and Suffolk, which lie east of ... |
Madison County Asks New York State for Immediate Mandate Relief at Mayday for ... - Madison County Courier
Madison County Asks New York State for Immediate Mandate Relief at Mayday for ... Madison County Courier “County revenue and local property taxes are being swallowed in the undertow of New York State's powerful current of unfunded mandates. They take away from needed investments in our roads, sewers, and other infrastructure that would improve our economy ... Madison County leaders speak out against rising cost of state mandates |
Bloomberg owns 11 properties and pays much higher taxes than Romney - Capital New York
Bloomberg owns 11 properties and pays much higher taxes than Romney Capital New York Those details and more became public with the release this morning of the mayor's New York City Conflicts of Interest Board financial disclosure report, and a version of his 2011 federal and New York State tax returns. Reporters gathered at the midtown ... |
State's public employee pension fund shows strong growth - Buffalo News
 New York Daily News | State's public employee pension fund shows strong growth Buffalo News In news that should lower future public employer pension expenses, and therefore help local payers of property tax, State Comptroller Thomas P. DiNapoli estimated that the New York State Common Retirement Fund grew at a clip of nearly 6 percent in the ... Audit reveals town of Parish needs to 'improve financial management practices' |
For New York's Gay Couples, Tying the Knot Tangles Estates - Wall Street Journal (blog)
For New York's Gay Couples, Tying the Knot Tangles Estates Wall Street Journal (blog) Previously, many gay couples owned property under an arrangement known as joint tenancy with rights of survivorship. Under this, a partner might have to pay state estate tax on the entire value of the property in New York state when someone died. |