Episcopal School v. Levin

{¶ 1} Prior Ohio Supreme Court cases have recognized that a property owner may obtain a “prospective use” exemption for real property during a year in which the owner is developing the property for the exempt use. This case addresses the situation in which the exempt use never materializes, and it raises two issues. First, we must decide whether the applicant’s ultimate failure to accomplish its exempt purpose should lead to a denial of a prospective-use exemption for a prior tax year. Second, we must decide whether the reasonable *413prospect of exempt use must exist not only on the tax lien…