OH HB212

Eligible homeowners who are permanently and totally disabled or have income at or below 250% of the federal poverty level may defer a portion of their property taxes on homesteads they have owned and occupied for at least one year

Deferral amount is calculated based on income tier: taxes exceeding 1% of income (at or below poverty level), 3% of income (up to 160% of poverty level), or 5% of income (up to 250% of poverty level)

Deferred taxes become due upon death of the homeowner (unless transferred to qualifying spouse/heir), sale or conveyance of the property, the homeowner no longer occupying the property as a homestead, or income exceeding 250% of federal poverty level

Creates the Property Tax Deferral Revolving Fund in the state treasury to reimburse counties for deferred taxes, with the general revenue fund providing backup funding if needed

Requires disclosure of any deferred taxes during property conveyances and adds new requirements for property transfer statements to include information about tax deferrals under this program