OH SB22

Creates a refundable income tax credit or rebate for homeowners and renters whose property taxes or rent-equivalent taxes (calculated as 15% of gross rent) exceed 5% of their total household resources

Limits eligibility to individuals with total household resources not exceeding $60,000 and who have occupied a qualifying homestead for at least 6 months of the claim year

Caps the maximum credit or rebate at $1,000 for the first year, with both the income threshold and credit limit adjusted annually based on the gross domestic product deflator

Restricts qualifying homesteads to properties with true values not exceeding the highest county median home value in Ohio, or for renters, gross rent not exceeding the highest county median rent multiplied by months of occupancy

Allows eligible claimants not required to file an income tax return to apply for the rebate on a form prescribed by the tax commissioner, with applications due by April 15 following the claim year