Bill > HB608

This bill modifies various aspects of property tax and local tax laws in Ohio. The bill introduces several key changes, including extending tax payment deadlines, creating a new optional tax payment extension program, and adjusting tax exemption rules. Specifically, the bill allows property owners with no delinquent taxes to apply for a flexible tax payment plan where they can pay their taxes in either four or twelve equal installments instead of the traditional two-installment method. The bill also extends the pre-residential development property tax exemption from seven to nine years, giving developers more time before being fully taxed on undeveloped land. Additionally, the bill provides new flexibility for local taxing authorities to reduce or waive existing local taxes when voters approve new tax levies, and it updates notification requirements for property owners when their property assessments change. The changes aim to provide more options and flexibility for taxpayers while maintaining the overall tax collection framework. The bill will apply to various tax years beginning on or after its effective date, with some provisions applying retroactively to previously approved exemption applications.

Budget and Finance

https://www.legislature.ohio.gov/legislation/136/hb608