(This is a simplified example for demonstration purposes.)

 

For example, let's use a $100,000 home in today's real estate market:
2000 market value of the property. $100,000
5-year levy renewal rate (effective rate) 0.4978 mills
Gross taxes from this property $17.42 annual taxes
Net taxes as a primary resident (2.5% reduction) $15.24 annual taxes

 

The same house in 1980 was:
2000 market value of the property $49,780
5-year levy renewal rate (effective rate) 1.00 mills
Gross taxes from this property $17.42 annual taxes
Net taxes as a primary resident (2.5% reduction) $15.24 annual taxes

 

The correlation between the millage and the market value will continue through the term of the levy (5 years).  Because the levy is being renewed, even though the market value in the district increases during the five-year term, the millage will be lowered, so the district will not receive more tax revenue than in the first year the levy was enacted.

More info...

Previous year's forms can be accessed from Ohio Department of Taxation.

Notice: DTE1 must be submitted between Jan 1 and Mar 31 of any given year by Ohio Revised Code.