DTE 106E
Rev. 4/09
Explanation of the Tax Reduction Calculation
Line 1: Column 1 equals the total taxable value of the appli-
year on the current homestead and the aggregate amount
cant’s unit before any reduction is taken due to the homestead
for the housing cooperative.
exemption. Column 2 equals the total taxable value of the
Line 6: Equals the greater of the amounts listed on line 4 or
housing cooperative before any reduction is taken due to the
line 5, for the unit and the aggregate amount for the housing
homestead exemption.
cooperative. This is the amount of the homestead exemption
Line 2: Equals the taxable value eligible for the homestead
tax reduction for this year, for the unit and for the housing
reduction for the current year, up to a maximum amount of
cooperative. If the applicant received a homestead exemption
$8,750 ($25,000 of market value multiplied by the 35% as-
for tax year 2006 on the current homestead, in future years
sessment percentage) for the unit and the aggregate amount
the homestead exemption reduction will be the greater of the
of the taxable value of all the units eligible for the reduction
amount calculated by the formula method in the future year
in the housing cooperative.
or the 2006 reduction.
Line 3: Equals the effective tax rate applied to the parcel for
Instructions to the County Auditor
the tax year. This rate is the same for the unit and for the
1. For each tax year for which an applicant qualifi es for the
housing cooperative.
homestead exemption, the county auditor shall complete
Line 4: Equals the amount of the homestead reduction ac-
this form in duplicate on or before the day the auditor
cording to the formula method for the tax year (line 2 x line
completes his or her duties under Ohio Revised Code
3), for the unit and the aggregate amount for the housing
sections 319.30 to 319.302.
cooperative.
2. The auditor shall retain one copy of the notifi cation and im-
Line 5: Equals the applicant’s homestead credit in effect for
mediately forward the original to the nonprofi t corporation
tax year 2006 if the applicant had a homestead credit for that
that owns and operates the housing cooperative.