Bill > HB103

This bill amends Ohio law to increase the homestead exemption amount and income limit for property tax reductions for certain homeowners. Specifically, the bill raises the income threshold from $30,000 to $45,000 for eligible individuals, such as those who are 65 or older, permanently and totally disabled, or surviving spouses of such individuals. The bill also increases the homestead exemption value from $25,000 to $50,000 of the property's true value. This means that qualifying homeowners will receive a larger tax reduction based on a higher portion of their home's value. The changes will apply to tax year 2025 for homestead exemptions and tax year 2026 for manufactured home taxes. The bill aims to provide additional financial relief to seniors, disabled individuals, and surviving spouses by reducing their property tax burden. The modifications will be adjusted annually based on the gross domestic product deflator to help maintain the exemption's value over time.

Budget and Finance

https://www.legislature.ohio.gov/legislation/136/hb103