Judgment Interest Calculator - Ohio

Under ORC § 1343.03(A) and (B), with the rate determined annually by the Ohio Tax Commissioner under ORC § 5703.47, the post-judgment interest rate for judgments entered in 2026 is seven percent (7%) per year simple interest. The 2025 rate was eight percent (8%). The rate is fixed on the judgment date and does not change until the judgment is satisfied. If your contract expressly provides a different rate, that rate may govern when enforceable. Always verify the Tax Commissioner certification for your judgment entry year before quoting interest in a payoff letter or execution.

Use simple interest: Interest equals principal times annual rate times years. At seven percent (7%) for 2026 judgments, fifty thousand dollars for two years equals seven thousand dollars ($50,000 × 0.07 × 2). Partial periods may use daily accrual: (Principal × 7%) ÷ 365. The rate locked on your judgment date applies for the entire unsatisfied period—do not substitute the current year rate for an older judgment. TheLegalCalc multiplies principal, rate, and years you enter. Partial payments reduce principal prospectively. Document principal, rate category, payment chronology, and governing statute on every demand letter or payoff quote. Partial payments reduce the principal base prospectively under the applicable interest formula. This calculator provides educational estimates only and does not replace advice from a licensed attorney familiar with your court, claim type, and docket. Verify official statute text and court rules before filing, settling, or enforcing.

Post-judgment interest under ORC § 1343.03 generally begins on the date of the judgment on unpaid principal. Pre-judgment tort interest in good faith under ORC § 1343.03(C) may run from accrual of the claim—a different start date and analytical branch. Confirm the judgment entry date on the docket. Contract prejudgment interest may follow the express contract rate when provided. Build a chronology before demanding interest in execution or garnishment. Document principal, rate category, payment chronology, and governing statute on every demand letter or payoff quote. Partial payments reduce the principal base prospectively under the applicable interest formula. This calculator provides educational estimates only and does not replace advice from a licensed attorney familiar with your court, claim type, and docket. Verify official statute text and court rules before filing, settling, or enforcing.

ORC § 1343.03 describes annual rates applied to principal in routine post-judgment planning without mandating compounding of interest on interest. Ohio uses simple interest on unpaid principal unless a contract or court order provides otherwise. This calculator models simple interest only. Michigan compound annual interest under MCL 600.6013 is a different framework—do not assume Ohio compounds because Michigan does. Document principal, rate category, payment chronology, and governing statute on every demand letter or payoff quote. Partial payments reduce the principal base prospectively under the applicable interest formula. This calculator provides educational estimates only and does not replace advice from a licensed attorney familiar with your court, claim type, and docket. Verify official statute text and court rules before filing, settling, or enforcing.

The Ohio Tax Commissioner sets the rate annually under ORC § 5703.47 using the federal short-term rate plus three percent. When federal short-term rates declined, the 2026 certified rate fell to seven percent (7%) from eight percent (8%) in 2025. Existing judgments keep the rate fixed on their entry date—2025 judgments at eight percent do not automatically drop to seven percent in 2026. New judgments entered in 2026 receive the seven percent rate unless a contract rate controls. Document principal, rate category, payment chronology, and governing statute on every demand letter or payoff quote. Partial payments reduce the principal base prospectively under the applicable interest formula. This calculator provides educational estimates only and does not replace advice from a licensed attorney familiar with your court, claim type, and docket. Verify official statute text and court rules before filing, settling, or enforcing.

Parties may settle and waive post-judgment interest subject to authority and bankruptcy rules. Settlements should state whether ORC § 1343.03 accrual stops on payment and which Tax Commissioner rate year governed the judgment. Creditors should cite the seven percent (7%) 2026 rate only for judgments entered in 2026. Consult Ohio counsel before satisfaction or partial credit. Document principal, rate category, payment chronology, and governing statute on every demand letter or payoff quote. Partial payments reduce the principal base prospectively under the applicable interest formula. This calculator provides educational estimates only and does not replace advice from a licensed attorney familiar with your court, claim type, and docket. Verify official statute text and court rules before filing, settling, or enforcing.