OH HB726

County councils in charter-adopted counties with populations exceeding one million may authorize a property tax freeze for homesteads owned and occupied by persons age 60 or older with total income not exceeding $50,000.

The tax reduction equals the amount by which current year taxes exceed the prior year taxes, effectively freezing taxes at the previous year's level.

County executives must accept and process applications by December 31st of the tax year for which reduction is sought, with approval or denial notification required within 30 days.

Applicants who no longer qualify must notify the county executive; if they fail to do so, the county may impose a charge with interest for improperly reduced taxes, subject to appeal rights.

Tax reductions continue if the homestead transfers to a surviving spouse upon the owner's death, provided the surviving spouse is at least 59 years old.