To amend sections 323.152, 323.153, 323.158, 4503.06, 4503.066, 4503.067, 4503.068, 4503.069, and 4503.0610 and to enact section 4503.0612 of the Revised Code to authorize a property tax reduction for certain owner-occupied homes.
To amend sections 323.152, 323.153, and 323.156 of the Revised Code to authorize a temporary property tax credit for certain continuously owned homesteads.
To amend sections 319.202, 319.302, 323.155, 323.158, 4503.0610, and 5323.02 and to enact sections 323.21 and 323.22 of the Revised Code to allow eligible homeowners to defer the payment of a portion of their property taxes.
HB 89 authorizes a temporary reduction in property taxes for owners of qualifying real estate or manufactured/mobile homes. It applies to properties continuously owned from January to December of the prior tax year, where current taxes exceed those paid the previous year. The reduction is calculated automatically by county auditors and applied to future tax payments without requiring owners to apply. This change directly affects property owners whose tax burden increased from the prior year, providing a temporary financial adjustment through existing tax systems.
To amend section 323.131 and to enact section 5705.17 of the Revised Code to prohibit most property tax levies submitted at a general election from taking effect in the current tax year.
To amend section 5703.21 and to enact section 5703.83 of the Revised Code to create a statewide screening system for certain property tax reductions and to make an appropriation.
To amend sections 511.27, 511.28, 1545.041, 1545.21, 3709.29, 5705.23, and 5705.34 and to enact sections 511.271, 1545.212, and 5705.171 of the Revised Code to require certain subdivisions to obtain the approval of the body that created the subdivision before levying a property tax.
To amend sections 5747.08 and 5747.98 and to enact section 5747.87 of the Revised Code to authorize a refundable income tax credit or rebate for homeowners and renters whose property taxes or a portion of their rent exceed five per cent of their income.
To amend section 319.301 of the Revised Code to include emergency levies, substitute levies, all inside millage, and school district income taxes in the calculation of a school district's effective millage floor.
HB 261 proposes to increase the amount of the standard homestead exemption. This change would primarily benefit eligible homeowners by reducing the taxable value of their primary residence. By raising the exemption amount, it aims to lower the portion of a home's value subject to property taxes. The bill specifically amends sections 323.152 and 4503.065 of the Revised Code to implement this increase.
