Bill > HB421

This bill establishes a two-step process for taxpayers to reduce and potentially later restore property tax rates within the ten-mill limitation in Ohio. First, electors of a subdivision or taxing unit can initiate a tax rate reduction by filing a petition with the county board of elections, requiring signatures from at least 15% of voters who cast ballots in the most recent gubernatorial election. If the petition is valid and approved by a majority of voters, the tax rate will be reduced starting the following January. The bill then provides a mechanism for the taxing authority to potentially restore the tax rate by submitting a resolution to increase the rate back up to its previous level, which requires a two-thirds vote by the taxing authority and subsequent voter approval. The bill includes detailed provisions for how these reduction and restoration elections will be conducted, including requirements for public notice, ballot information, and certification of tax collection estimates. The process aims to give taxpayers more direct control over local property tax rates while maintaining a structured and transparent approach to potential tax rate changes.

Budget and Finance

https://www.legislature.ohio.gov/legislation/136/hb421