Ohio

Sales Tax

  • Statewide: 5.75%
  • Counties can levy an additional sales tax of no more than 2.25%.
  • Current average sales tax (with local taxes included): 7.13%
  • Common Exceptions at State Level:
    • Prescription Medicine: Exempt
    • Unprepared Foods: Exempt
  • Gasoline Tax: 56.91 cents/gallon (Includes all state, local, and federal taxes)
  • Diesel Fuel Tax: 71.41 cents/gallon (Includes all state, local, and federal taxes)
  • Cigarette Tax: $1.60/pack of 20

 

Personal Income Tax

  • Personal Income Tax Rate Range: Five brackets from 0% to 4.797% (on income more than $217,400)
  • Standard deduction: None
  • Personal Exemption Allowance: Income $40,000 or less: $2,350. $40,000-$80,000:$2,100. Over $80,000: $1,850
  • Dependent Exemption: Same as personal
  • Itemized Deductions Allowed?: Yes, subject to limitations
  • Retirement Income
    • Social Security: Exempt to the extent included in federal Adjusted Gross Income
    • IRAs: Taxable at ordinary income tax rates to extent included in federal AGI*
    • 401Ks/Defined contribution employer retirement plans: Taxable at ordinary income tax rates to extent included in federal AGI*
    • Private pensions: Taxable at ordinary income tax rates to extent included in federal AGI*
    • Public Pensions: Taxable at ordinary income tax rates to extent included in federal AGI*
  • Military Pay
    • Active Duty Pay: Taxable to the extent included in federal AGI
    • Military Retirement Pay: Exempt
    • Military Disability Pay: Exempt
    • VA Disability Dependency & Indemnity Compensation Benefits: Exempt
    • SBP/SSBP/RCSBP/RSFPP: Exempt to the extent included in federal AGI
Income tax comments: The state allows municipalities to levy an income tax, but approval must be obtained by voters. *Retirement income of less than $100,000 is eligible for tax credit of up to $200.

 

Property Tax

  • Local municipalities average 1.58% of the property's assessed value.
  • Calculation of assessed value: 35% of fair market value; reappraised annually
  • Relief programs for:
    • Low Income & Over 65 or Disabled: First $25,000 of appraised value exempt for those making less than $32,800.
    • Disabled Veterans/Surviving Spouse: Up to $50,000 of appraised value exempt if 100% disabled. No income requirements.
  • Personal Property Tax: None.

 

Inheritance & Estate Taxes: None

 

Department of Revenue website: www.tax.ohio.gov

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