On or before October 15
th of each year the Ohio Tax Commissioner is required, in accordance with
Ohio Revised Code §5703.47, to determine the
interest rate for certain taxes and other purposes. The rate is computed by taking the federal short-term interest rate as defined by
26 U.S.C. §1274, rounding it to the nearest whole number, and adding 3%.
Pursuant to Ohio Revised Code §1343.03(A), this rate applies to all judgments granted by Ohio courts, unless said judgment arises from a written contract that provides for a different rate of interest.
The tax commissioner has determined that this rate is 7% for the year 2026. All judgments granted in Ohio in 2026 will bear interest at the rate of 7% per annum, except where there is a written contract providing for a different rate of interest. Under
Ohio Revised Code §1343.03(B), the rate stated in the judgment entry remains in effect until the judgment is satisfied.
If you have questions about this topic, please connect with Shareholder and
Consumer Collections Group Chair
David Head at any time.
These blogs are not a solicitation for business and are not intended to constitute legal advice on specific matters, create an attorney-client relationship, or be legally binding in any way.