HB 126 Summary

• Modifies Ohio's property tax complaint procedures by establishing stricter requirements for subdivisions and third parties to challenge property valuations, including mandatory resolution adoption at public meetings with advance notice to property owners.

• Requires subdivisions filing complaints on non-owned property to demonstrate the sale price exceeds assessed value by both 10% and a filing threshold amount (initially $500,000 for 2022, adjusted annually by gross domestic product deflator).

• Adds definitions for "original complaint," "counter-complaint," and "third party complainant," and clarifies which entities can file complaints under specific circumstances related to property tax assessments.

• Imposes one-year deadline for boards of revision to render decisions on complaints filed by legislative authorities, mayors, or third parties, with dismissal required if deadline is not met.

• Prohibits subdivisions from entering "private payment agreements" that condition legislative action on complaint filing, dismissal, or settlement; voids and makes such agreements unenforceable.