OH HB156

Summary of Ohio H.B. 156

• Creates a property tax freeze for eligible seniors: Homeowners age 65 or older who have continuously owned and occupied their home for at least two years can have their property taxes frozen at the prior year's level, preventing tax increases from year to year.

• Income and property value limits apply: To qualify, the homeowner's total income cannot exceed $50,000 (adjusted annually for inflation), and the home's true value must be less than $500,000.

• Covers both real property and manufactured homes: The bill amends existing homestead exemption laws and creates a new section (4503.0612) extending the same tax freeze protections to qualifying manufactured or mobile home owners.

• State reimburses local governments: The tax commissioner will reimburse counties for the revenue lost from these tax reductions, with funds distributed to local taxing districts as if the taxes had been collected.

• Requires application through county auditor: Homeowners must apply with documentation proving they meet all qualifications; approved applications serve as continuing applications for subsequent years while eligibility requirements are met.