OH HB266

Creates a new temporary $300 annual property tax credit for homeowners who have continuously owned and occupied their homestead (or manufactured/mobile home) for one or more years immediately preceding the tax year

Credit applies for five tax years beginning with the first tax year after the bill's effective date, then expires

Covers real property homesteads, homesteads in housing cooperatives, and manufactured or mobile homes taxed under the manufactured home tax

Requires applicants to file an application with documentation proving continuous ownership/occupancy, which then serves as a continuing application for subsequent years

State reimburses counties from the general revenue fund for the tax reductions, plus 2% administrative costs to county auditors and treasurers