OH SB90

Authorizes township boards and municipal legislative authorities to exempt vacant single-family and condominium homes from property taxation for up to three years when purchased by an owner-occupant with a domicile in Ohio.

Defines "vacant home" as a dwelling unoccupied by owner or tenant for 12 consecutive months immediately preceding purchase, including up to one acre of surrounding land.

Exemption applies only to homes purchased for not more than $150,000 and where the buyer occupies the dwelling as principal residence within 60 days of taking possession.

Requires local governments to notify county commissioners 45 days before adoption and allows commissioners to object and negotiate compensation agreements, with compensation not exceeding the forgone property taxes.

Requires exempted property owners to make annual service payments in lieu of taxes equal to all school district property taxes and 25% of community developmental disabilities taxes that would have been owed.