COLUMBUS, Ohio (Statehouse News Bureau) — Ohio House lawmakers voted last week 78-10 to pass an enhanced property tax credit for some older and disabled Ohioans, but it is headed to the Senate with little time left for the chamber to act.
House Bill 274 nearly doubles the state’s Homestead Exemption, expanding it to the first $50,000 of a home’s fair market value, from about $26,200 under current law. The Homestead Exemption assists property owners who are 65 and older, permanently and totally disabled, or 59 and older and the surviving partner of a person who previously received it.
Rep. Adam Mathews (R-Lebanon), who introduced the bill last year with Rep. Richard Dell’Aquila (D-Seven Hills), said it’s a good start as the legislature goes “after the scourge of property taxes.”
“Making sure that those who are living in what’s most likely their last home, the ones that they retired in, the ones that they built their memories in, and they don’t need to be taxed out of their homes,” Mathews said.
But Mathews, his colleagues on both sides of the aisle, and housing advocates all said Wednesday it’s only cracking the surface when it comes to property taxes.
“It’s part, it’s one solution that’s really going to do a lot of great work for our seniors, for our low income homeowners, but I think it’s just a part of a bigger conversation.” said Leah Evans, president and CEO of affordable housing provider Homeport.
With valuations rising fast, homeowners across the state are feeling a financial squeeze, which trickles to renters as well. Lawmakers have sent little to the governor on the issue, however, beyond when they adjusted the Homestead Exemption for inflation, to that $26,200 figure, during the state budget process last year.
Senate President Matt Huffman (R-Lima) is already kicking the can to next year. He said he has eyes on more substantive relief.
“Things that haven’t had much discussion that have huge ramifications monetarily and into the future, we’re not going to be able to do that in seven or eight days,” Huffman said Dec. 10, after the House vote. “I’d like to take the findings of the property tax committee and use those to draft legislation for the first six months of next year.”
Any bills that do not make it to Gov. Mike DeWine’s desk by the time the legislature adjourns, likely next Wednesday or Thursday, Dec. 18-19, would need to be reintroduced in 2025.
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