Revise the law governing property taxes and county auditors

HB 496 updates the legal procedures for local governments in Ohio to issue general obligation bonds by clarifying the specific information that must be included in legislation submitted to voters. The bill requires taxing authorities to provide detailed estimates of bond interest rates and the resulting property tax increases, which must then be independently verified by county auditors before an election is held. It also establishes strict timelines for filing these documents and mandates that election ballots clearly display the bond amount, repayment period, and the estimated additional tax burden on property owners. By standardizing these disclosure requirements, the bill aims to ensure voters receive consistent and accurate financial data when deciding on local debt financing.