Revolutionizing Property Taxes: Key Changes Proposed by Law Committee!
Ohio’s Property Tax Laws Are Ready for a Revamp: 21 Bold Recommendations Await Action
Stay tuned for the latest developments!
Posted on:
COLUMBUS, Ohio — As the Ohio legislature gears up for a fresh two-year session, one thing is clear: property tax reform is at the forefront of many lawmakers’ agendas. After a lackluster previous session, the anticipation is palpable as a bipartisan committee has just unveiled a comprehensive list of 21 transformative recommendations.
The 10-member Joint Committee on Property Tax Review and Reform conducted an in-depth review, engaging with nearly 50 voices over nine extensive meetings. The results are a game-changing set of recommendations aimed at making property taxes fairer and more transparent. Here’s what’s on the table:
- Expanding the traditional Homestead Exemption to include enhanced provisions for disabled veterans, plus means testing.
- Allowing counties to utilize a three-year average for property valuations, smoothing out market fluctuations.
- Introducing a “circuit breaker” refundable income tax credit for those whose property taxes exceed 5% of their income.
- Eliminating replacement levies while trimming the maximum duration and renewal options for emergency, substitute, and continuous tax levies.
- Reviewing tax abatements and exemption programs to assess their effectiveness and prevent misuse.
- Lowering the acceptable percentage of market value used in mass appraisal assessments from 90% to 85%.
- Establishing a property tax deferral program to assist those in need.
This ambitious list also includes calls for increased public meetings, streamlined processes for passing and collecting property taxes, and enhanced clarity in ballot language. Perhaps most importantly, there’s a suggestion to amend the Ohio Constitution, granting lawmakers more flexibility to adapt property tax laws in the future.
Among the committee members, there’s a clear urgency to advance these proposals. Senate Democrats are stepping up, with Sen. Hearcel Craig vowing to reintroduce the circuit breaker initiative, while Sen. Bill DeMora seeks to implement a property tax freeze for vulnerable groups like seniors and veterans.
“Access to safe and affordable housing is a critical issue for Ohio residents,” emphasized Craig. “The legislature must prioritize policies that support families and uphold housing as a fundamental human right.”
However, dissent exists among lawmakers. Sen. Bill Blessing has expressed significant reservations about several recommendations. He highlighted a divide among committee members, with one faction resistant to spending state funds and the other advocating for targeted relief for low and middle-income families.
As discussions heat up and these transformative ideas are put to the test, Ohioans should stay informed and engaged. Your voice matters—this is about ensuring a fairer and more equitable property tax system for everyone!
