This story was funded by a grant from the Pulitzer Center for Crisis Reporting.
Ohio lawmakers reached across the aisle to introduce a new bill that would close a property tax loophole on commercial property sales in the state.
Reps. Mike Skindell (D-13) and Doug Green (R-66) co-sponsored HB449 in late December. The proposed law would not allow businesses to avoid conveyance taxes by spinning off commercial properties into shell companies.
“We have been seeing a loss of revenue because of companies being placed in these LLCs. So when the property is transferred, it’s in the LLC and that [conveyance] fee is avoided. So what you have is a situation where the counties have less revenue on these, then they have to raise it on other people,” Skindell said.