Ohio Appeals Board Finds Property Tax Value of $12.6 Million for Cannabis Facility

The Ohio Board of Tax Appeals (BTA) found a cannabis cultivation and processing facility to be worth $12.6 million for property tax purposes because it’s a special purpose facility. The taxpayer appealed a decision of the Licking County Board of Revision which retained the Auditor’s valuation of $9.8 million. The taxpayer constructed the 25,000 square foot building specifically for its cannabis business, including offices and a laboratory, features that aren’t common in the industry and why the 25-acre parcel is classified as special purpose, the BTA said. The property was valued at $12.6 million, more than the claimed $3.44 million ...