Ohio State U. Must Pay Taxes on Property It Rents Out, Court Rules

The Ohio Supreme Court ruled on Tuesday that Ohio State University owed taxes on a rental property that it leases out for commercial uses. The university had been putting the net profits from the property into a scholarship fund, according to The Columbus Dispatch. But the court ruled unanimously that a tax exemption should be based on the use of the property, not on the use of the proceeds from the rental, the paper reported.