OH SB268

Exempts homesteads owned and occupied by veterans discharged under honorable conditions from property tax, with the exemption applying to only one homestead per veteran.

Defines "veteran" as a person who served in U.S. armed forces (including reserves and national guard) and was discharged or released under honorable conditions, regardless of disability status.

Provides tax reduction equal to the product of $50,000 of the property's true value multiplied by assessment percentage, effective tax rate, and applicable adjustment factors.

Extends the exemption to surviving spouses of deceased veterans who occupied the homestead when the veteran died, continuing through the year the surviving spouse dies or remarries.

Applies to real property tax year 2021 and thereafter, and to manufactured/mobile home taxes for tax year 2022 and thereafter.