Solleks, there are many issues to consider.
Another poster pointed out that the telco owns the line to the demarcation point (demarc), and that demarc is right on your house. Touching any of that is technically a violation of law, and assuredly destroying it is.
Calling the telco isn't going to help, since as another poster pointed out, you're not a customer.
Of course, nobody is really going to stop you from carefully cutting it off, taping the end, coiling it up, and then wiring it to the pole to keep it out of the way (particularly anyone's way). That won't be the end of it, however ... since the telco can always come out and do some work on that pole, and will notice the hanging/secured cable. They might even endeavor to re-attach it to your house later.
If you don't own the house, or intend to move on in the foreseeable future, removing the cable is really bad action. You're essentially forcing a future tenant or owner to pay the telco for a line-reattachment fee. If the telco classifies the detached line as a downed line, that might not happen, but if it's classified like that, then they might be re-attaching it to your house anyway.
Given there are some consequences for taking the matter into your own hands (or snips), I suggest you contact the PUCO or FCC for the Toledo area, and determine if there is an option for a homeowner permanently removing the phone line run to his residence(s). This may not be a quick process, but at least in the case of the government, they can't claim that you're not a customer of theirs. Good luck.