OH HB261

Doubles the standard homestead exemption from $25,000 to $50,000 of a property's true value for eligible Ohio homeowners, including those 65 and older, permanently and totally disabled individuals, and qualifying surviving spouses

Applies the same $50,000 exemption increase to manufactured and mobile home taxes for eligible owners

Maintains existing eligibility requirements, including the $30,000 income threshold for applicants who did not previously receive the exemption

Preserves the annual inflation adjustment mechanism tied to the gross domestic product deflator, with the Tax Commissioner certifying adjusted amounts by December 1 each year

Takes effect for real property tax years ending on or after the effective date and manufactured home tax years beginning on or after the effective date