No more Ohio property tax breaks for everyone Two months before to the due date of property tax bills, the statehouse bill

For the time being at least, Ohio homeowners who were hoping for some relief from the statehouse regarding property taxes are facing a harsh awakening. The new tax bills are due in less than two months, with several counties experiencing exceptionally high property reappraisals this year.

Owner of a duplex in south Columbus Anna Young said, “We got the original countertops and the original cabinets that were put in when they were built in 1987.” “I still can’t get over a $167,000 increase on my house.”

According to the Franklin County Auditor’s website, Young’s valuation has been $73,800 since 2020.

Her worth increased to $240,000 in 2023 as a result of the triennial reappraisal. It is anticipated that her new property tax will rise by at least $2,000, and she will be required to pay it in 2024.

Young added, “It’s going to be hard.” “I can imagine some people losing their houses over this, and that’s sad.”

As proposed, House plan 187, the property tax relief plan that is now the most advanced in the Ohio Statehouse, no longer provides relief to all homeowners.

The bill’s original language required county auditors to discard their 2023 reappraisals. Instead of using a one-year average, new assessments were to use a three-year average on comparable home sales, which was expected to limit gains in property values. The bill was revised by Senate lawmakers this month. Only eligible homeowners who are elderly or disabled can benefit from the amended adjustments.

“The group most susceptible to inflation is those with fixed incomes. “At 75 years old, it’s improbable that they will be able to find employment elsewhere,” stated Sen. Bill Blessing (R-Colerain Twp.), the senator who proposed the amendment to HB187. “This requires extreme caution on our part. I believe that if you take into account everyone and make this very large, it would cause inflation and raise property prices. And it would raise valuations, as you are aware.”

According to HB187, elderly and disabled homeowners who earn $36,000 or less annually may see a $30,000 reduction in their property values. The Homestead Exemption’s prior maximum reduction was $25,000. Senior and disabled homeowners who earn up to $75,000 annually may be eligible for help, although the income limits are also rising.

“I most certainly was unaware of the Homestead credit. Young, who receives disability benefits and lives on a fixed income, said, “I’m absolutely looking into that today.

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