Lake County Times

The Ohio House has approved House Bill 274, a measure aimed at expanding the Homestead Exemption for long-term homeowners. The bill was introduced by State Representatives Jamie Callender and Daniel Troy. It proposes an additional property tax credit of $50,000 for certain homeowners.

Currently, Ohio provides a general homestead exemption along with two enhanced exemptions. The general exemption allows $26,000 of a home's value to be exempt from taxation for those aged 65 or older, individuals who are permanently disabled, or surviving spouses aged 59 or older with a modified adjusted gross income below $38,600.

The existing enhanced exemptions include:

- Disabled Veterans Exemption: Up to $52,300 for totally disabled veterans and their surviving spouses.

- Public Service Officer Exemption: Up to $52,300 for peace officers, firefighters, or emergency responders who die or sustain fatal injuries in the line of duty.

House Bill 274 introduces a third enhancement. This would offer a $50,000 exemption to homeowners meeting the general exemption's income criteria and who have owned and occupied their home continuously for at least 20 years. Surviving spouses would also qualify under this benefit. The proposed legislation is expected to provide $190 million in property tax relief.

Callender emphasized the need for this legislation by stating: "Many older Ohioans who have owned their homes for decades are now faced with unsustainable property tax bills." He added that it would allow seniors to remain in their homes without financial strain.

Troy expressed support but noted more work is needed: "This is a step in the right direction... progress is slow," he said. He indicated plans to pursue further property tax relief measures in future legislative sessions.

The bill will next undergo hearings and await voting in the Ohio Senate.