S.B. No. 159 - Property Tax Relief and Local Government Support Act

• Creates a new property tax reduction (Division C of section 323.152) for owner-occupied residential properties with 1-3 dwelling units where the owner's income does not exceed median county income and current property taxes increase by more than 5% from the previous year.

• The new reduction equals the amount by which current taxes exceed 105% of the previous year's taxes, with several exceptions including when significant improvements are added to the property or ownership is transferred.

• Applies to tax year 2021 and thereafter for real property and tax year 2022 and thereafter for manufactured/mobile homes; county auditors must mail applications to eligible homeowners within 30 days of enactment.

• Modifies sections 323.152, 323.153, 323.156, and 4503.06 of the Revised Code governing homestead property tax exemptions and manufactured home taxes.

• Makes the act effective for tax year 2021 for real property and tax year 2022 for manufactured homes, with minimum tax thresholds and income limitations based on county median income.