Meridian Technology Leasing Corp. v. Tracy

The Tax Commissioner contends that the BTA disregarded the plain language of R.C. 5725.25(A) and incorrectly focused on the “use of the property.” The commissioner maintains that ownership of the property and assets, not their use, is the criterion for the exemption set forth in R.C. 5725.25(A).

Meridian contends that the computer equipment in question is entitled to exemption pursuant to R.C. 5725.25(A), which provides that domestic insurance companies are subject to real estate taxes, but that the annual franchise tax levied by R.C. 5725.18 “shall be in lieu of all other taxes on the other…