Ohio House lawmakers voted Tuesday by 78-10 to pass an enhanced property tax credit for some older and disabled Ohioans, but it is headed to the Senate with little time left for the chamber to act.
House Bill nearly doubles the state鈥檚 homestead exemption, expanding it to the first $50,000 of a home鈥檚 fair market value, from about $26,200 under current law. The homestead exemption assists property owners who are 65 and older, permanently and totally disabled, or 59 and older and the surviving partner of a person who previously received it.
Rep. Adam Mathews (R-Lebanon), who introduced the bill last year with Rep. Richard Dell鈥橝quila (D-Seven Hills), said it鈥檚 a good start as the legislature goes 鈥渁fter the scourge of property taxes.鈥�
鈥淢aking sure that those who are living in what鈥檚 most likely their last home, the ones that they retired in, the ones that they built their memories in, and they don鈥檛 need to be taxed out of their homes,鈥� Mathews said.
But Mathews, his colleagues on both sides of the aisle, and housing advocates all said Wednesday it鈥檚 only cracking the surface when it comes to property taxes.
鈥淚t鈥檚 part, it鈥檚 one solution that鈥檚 really going to do a lot of great work for our seniors, for our low income homeowners, but I think it's just a part of a bigger conversation.鈥� said Leah Evans, president and CEO of affordable housing provider Homeport.
With valuations rising fast, homeowners across the state are feeling a financial squeeze, which trickles to renters as well. Lawmakers have sent little to the governor on the issue, however, beyond when they adjusted the homestead exemption for inflation, to that $26,200 fugyre, during the state budget process last year.
Ohio Senate President Matt Huffman (R-Lima) is already kicking the can to next year. He said he has eyes on more substantive relief when he moves to the house.
鈥淭hings that haven鈥檛 had much discussion that have huge ramifications monetarily and into the future, we鈥檙e not going to be able to do that in seven or eight days,鈥� Huffman said Tuesday night, after the House vote. 鈥淚鈥檇 like to take the findings of the property tax committee and use those to draft legislation for the first six months of next year.鈥�
Any bills that do not make it to Ohio Gov. Mike DeWine鈥檚 desk by the time the legislature adjourns, likely next Wednesday or Thursday, would need to be reintroduced in 2025.
