OH SB42

Local governments (municipalities, counties, and limited home rule townships) may create "residential stability zones" where qualifying homeowners can receive a partial property tax exemption on increases in their home's assessed value

Eligible homeowners must meet income limits (no more than 80% of area median income), own/occupy the home for at least one year, and satisfy asset ownership limitations established by the local government

Homeowners age 60+ receive the exemption indefinitely; all other qualifying homeowners receive a six-year exemption with the ability to reapply if the zone remains active

Residential stability zones may last up to 10 years and can be renewed; the exemption percentage and specific eligibility criteria are set by each local government's resolution

Making false statements to obtain the exemption is a fourth-degree misdemeanor, and homeowners who improperly received exemptions must repay the exempted taxes plus interest