2006 Ohio Revised Code - 5749.03. Exemptions.
The following shall be exempt from the tax imposed by
section 5749.02 of the Revised Code:
The severance of natural resources from land or water in this state owned legally or beneficially by the severer, which natural resources will be used on the land from which they are taken by the severer as part of the improvement of or use in his homestead and which have a yearly cumulative market value of not greater than one thousand dollars. When severed natural resources so used exceed a cumulative market value of one thousand dollars during any year, the further severance of natural resources shall be subject to the tax imposed by
section 5749.02 of the Revised Code.
HISTORY: 134 v H 475. Eff 12-20-71.
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