Stewart Co-Sponsors Legislation to Modify the Homestead Exemption for Inflation

COLUMBUS – The Ohio House of Representatives passed House Bill 57, legislation that will adjust the homestead exemption for inflation.  

The homestead tax exemption exempts $25,000 of appraised property value for seniors, homeowners who are totally and permanently disabled, and surviving spouses of fallen first responders who make less than $36,100. The program offers an enhanced exemption of $50,000 for veterans rated 100% disabled by the VA. Nearly 750,000 homeowners in Ohio take advantage of the homestead exemption each year. 

"I was proud to co-sponsor this legislation since one of the biggest obstacles facing seniors and military veterans on fixed incomes is uncertainty," State Rep. Brian Stewart said.  "By automatically increasing the homestead exemption every year at the rate of inflation, they will have greater financial stability and the satisfaction of being a homeowner."

The legislation now moves to the Ohio Senate for further consideration.