Financial Benefits

The OAQDA can offer a variety of tax incentives for projects improving air quality. These incentive can help you recover a portion of the investment in cleaner air and energy efficiency you many be considering.

Tax Incentives

OAQDA can provide a 100 percent exemption from the following taxes:

Real property tax – Any real property comprising an air quality project is exempt from real estate property taxes and assessments  as long as the bond or note issued by OAQDA is outstanding.

Sales and use tax – All tangible personal property comprising an air quality project purchased or acquired specifically for that project is exempt from the state and local sales and use tax levied on the transfer or sale of that tangible personal property. The state sales tax rate is set at 5.0%. Sales tax rates vary by county as counties are authorized to levy additional, permissive sales taxes.

Interest income on bonds and notes issued by OAQDA – Any income generated from the ownership of bonds and notes issued by the OAQDA, the transfer of bonds and notes, and any profit derived from the sale of those bonds or notes is exempt from Ohio’s state income tax and in some cases, federal income tax.