OH HB274

Creates an enhanced property tax homestead exemption for homeowners aged 65+, permanently and totally disabled persons, disabled veterans, and surviving spouses of deceased qualified homeowners who have continuously owned and occupied their homestead for 20 or more years immediately preceding the tax year.

Enhanced exemption equals $50,000 of true property value (compared to existing $25,000 exemption) and applies to both real property and manufactured/mobile homes.

Surviving spouses of deceased persons who qualified for the enhanced exemption may claim the reduction if they occupied the homestead at time of death and meet income thresholds, with the reduction continuing until the surviving spouse dies or remarries.

Income threshold capped at $30,000 annually (adjusted each September based on gross domestic product deflator), with exemptions available to applicants whose total income does not exceed the threshold.

Amendments to sections 323.152, 323.153, 4503.065, and 4503.066 of the Revised Code apply to tax year 2023 for real property and tax year 2024 for manufactured homes and thereafter.