Home Ohio Legislation proposed to update Ohio’s Homestead Tax Exemption

Legislation proposed to update Ohio’s Homestead Tax Exemption

0

COLUMBUS, OHIO – State Representatives Daniel Troy (D-Willowick) and Thomas Hall (R-Madison Township, Butler County) have introduced House Bill 103, a bipartisan proposal aimed at updating Ohio’s Homestead Tax Exemption Program, according to The News-Herald.

The program, originally approved by Ohio voters in 1970, provides property tax relief to lower-income Ohioans aged 65 and older, and later expanded to include permanently and totally disabled homeowners.

According to Rep. Troy, the program has undergone several changes since its inception. In 2007, the General Assembly temporarily broadened eligibility to all homeowners aged 65 or those with permanent disabilities, irrespective of income, and replaced the previous tiered benefits system with a flat $25,000 exemption.

The 2013 budget bill restored income limits, setting the threshold at $30,000 to qualify for the $25,000 reduction, with those already receiving the benefit being grandfathered in. More recently, in 2024, the income cap was adjusted to $38,600.

However, Troy contends that these measures have not kept pace with the rising cost of living and escalating property taxes. He emphasized that updating the Homestead Exemption Tax Program is crucial as Ohio’s population ages, ensuring that older citizens and disabled residents living on fixed incomes can remain in their homes without undue financial burden.

You can read the full text of House Bill 103 below:

Exit mobile version