This bill increases Ohio's homestead property tax exemption amount from $25,000 to $50,000 and raises the income limit for eligibility from $34,500 to $50,000 (adjusted annually for inflation). It directly affects seniors (65+), permanently disabled residents, and surviving spouses of disabled seniors, disabled veterans, or public safety officers killed in duty. The exemption reduces property tax bills for qualifying homeowners who own and occupy their primary residence, with the new amounts automatically adjusted each year based on economic data. This change modifies existing tax relief provisions under sections 323.152 and 4503.065 of the Revised Code.
SB 2 creates a tax exemption program for developers building on former coal mines or brownfield sites in Ohio, offering five years of property tax relief to encourage investment in these economically distressed areas. It also clarifies that small renewable energy projects (under 50 megawatts, like solar farms, wind farms, and biogas digesters) can be regulated by local zoning boards without changing their tax classification as public utilities. The bill directly affects local governments, developers, and small renewable energy operators by streamlining approvals for these projects while preserving existing tax treatment. These changes aim to support grid reliability and affordability by facilitating new power generation in targeted communities.
To amend sections 323.152, 323.153, 323.158, 4503.06, 4503.066, 4503.067, 4503.068, 4503.069, and 4503.0610 and to enact section 4503.0612 of the Revised Code to authorize a property tax reduction for certain owner-occupied homes.
To amend sections 323.152, 323.153, and 323.156 of the Revised Code to authorize a temporary property tax credit for certain continuously owned homesteads.
To amend sections 319.202, 319.302, 323.155, 323.158, 4503.0610, and 5323.02 and to enact sections 323.21 and 323.22 of the Revised Code to allow eligible homeowners to defer the payment of a portion of their property taxes.
SB 116 reduces the tangible personal property tax rate for pipeline companies in Ohio from 88% to 25% of true value. This directly affects pipeline companies operating in Ohio, lowering their property tax burden on taxable assets like pipelines and related equipment. The bill amends Revised Code section 5727.111 to implement this rate change for all pipeline company property first taxed in Ohio after the effective date. The key provision is the uniform 25% tax rate, replacing the previous 88% rate for this specific industry.
HB 89 authorizes a temporary reduction in property taxes for owners of qualifying real estate or manufactured/mobile homes. It applies to properties continuously owned from January to December of the prior tax year, where current taxes exceed those paid the previous year. The reduction is calculated automatically by county auditors and applied to future tax payments without requiring owners to apply. This change directly affects property owners whose tax burden increased from the prior year, providing a temporary financial adjustment through existing tax systems.
To amend section 323.131 and to enact section 5705.17 of the Revised Code to prohibit most property tax levies submitted at a general election from taking effect in the current tax year.
To amend section 5703.21 and to enact section 5703.83 of the Revised Code to create a statewide screening system for certain property tax reductions and to make an appropriation.
To enact sections 5705.262 and 5705.263 of the Revised Code to allow electors to reduce unvoted property taxes by initiative and to name this act the Taxpayers Freedom Trilogy – Act Two: Arresting Inside Millage.
