State Senator Susan Manchester (R-Waynesfield) voted alongside her colleagues in the Ohio Senate to pass major reforms to Ohio’s Property Tax Laws, ending the unfair practice of runaway tax increases without a vote of the people.
This will save Ohio’s property taxpayers $2 billion over three years as the full force of the changes takes effect.
The Senate acted to pass reforms in five key areas.
- Prioritizing property tax relief for Ohioans who own and live in their homes. Homeowners will see the residential tax credit increase over the next 4 years.
- This will provide an additional $350 million to $400 million of property tax relief for Ohio homeowners while the non-business property tax credit is phased out.
- Capping the basic automatic growth of inside millage to no more than the cumulative rate of inflation over the previous 3 years.
- Capping the growth in property taxes due to reappraisal to no more than the cumulative rate of inflation over the previous 3 years.
- Empowering County Budget Commissions to reduce unnecessary or excessive collections.
- Making existing Emergency and Substitute levies subject to the tax reduction factors.
“Ohio tax policy should work to benefit property owners and their local communities, not discourage them,” said Senator Manchester. “The Ohio Senate has stepped up to reign in the explosive rate of Ohio’s property taxes. These bills set in place measures for the state and local counties to provide much needed relief for homeowners across the Buckeye State.”
Earlier this year, the Ohio Senate passed a veto override, enforcing a new law that prohibits all future emergency and substitute levies.
These levies fall outside of the anti-inflationary guardrails of prior law and contributed to shocking property tax bills for taxpayers.
