Rev. Rul. 55-152

Effective for 1954 and subsequent years, real property taxes imposed by the State of Ohio accrue, for Federal income tax purposes, on the first day of January, annually. See section 5719.01 of Page's Ohio Revised Code, Annotated, 1954 edition, effective October 13, 1953. G. C. M. 8218, C. B. IX-2, 106 (1930) which holds, in part, that real property taxes imposed by the State of Ohio, shall accrue as of the day preceding the second Monday of April, is modified accordingly with respect to 1954 and subsequent years. Further, as a result of the change in the lien date of Ohio real property taxes, an accrual basis taxpayer, on a fiscal year basis which includes April 12, 1953, as well as January 1, 1954, will have two accrual dates of real property taxes for such fiscal year. Compare I. T. 4043, C. B. 1951-1, 22