OH HB61

Increases the homestead exemption for seniors (65+), permanently disabled individuals, and qualifying surviving spouses from $25,000 of true value to $750 in direct tax reduction, with annual inflation adjustments

Raises the homestead exemption for disabled veterans and surviving spouses of disabled veterans or public service officers killed in the line of duty from $50,000 of true value to $1,500 in direct tax reduction

Changes the owner-occupancy property tax credit from 2.5% of qualifying levies to a flat $750 reduction, subject to annual inflation adjustments

Eliminates the "qualifying levy" restrictions that limited the 10% owner-occupancy tax reduction to levies approved before September 29, 2013, extending the reduction to all levies

Caps homestead exemption reductions at the total amount of school district taxes charged against the property for that year