Bill > SB215

This bill modifies the homestead exemption calculation and eligibility criteria for real property and manufactured home taxes in Ohio. Specifically, the bill changes how tax reductions are calculated for homeowners who are seniors, disabled, disabled veterans, or surviving spouses of disabled veterans or public service officers killed in the line of duty. Instead of using a fixed dollar amount, the bill introduces a tiered percentage-based reduction system that depends on the applicant's total income percentile relative to all Ohio residents' modified adjusted gross income. The percentages range from 20% for those at or below the 50th percentile to 4% for those between the 80th and 90th percentiles. The bill also increases the base value used for calculating reductions from $50,000 to $104,600 and removes previous annual inflation adjustment mechanisms. Additionally, the bill applies these changes to both real property taxes and manufactured home taxes, ensuring consistent treatment across different types of residential property. The modifications aim to provide more nuanced and income-sensitive tax relief for qualifying homeowners while potentially simplifying the previous exemption calculation method.

Budget and Finance

https://www.legislature.ohio.gov/legislation/136/sb215