Representative Troy Announces $450-500 State-funded Property Tax Credit to Recipients of Ohio's Homestead Exemption

COLUMBUS - State Rep. Daniel Troy (D-Willowick) today announced the passage of House Bill 479, of which he is a co-sponsor. The legislation includes a provision to reserve $350 million for property tax credits to recipients of the standard or enhanced homestead exemption. The provision provides a one-year property tax reduction for homestead exemption recipients in tax year 2026, with the reserved funds divided equally among eligible homeowners. The credit will be applied to property tax bills in early 2027.

The Homestead Exemption is a targeted property tax reduction for lower-income Ohioans who are aged 65 or older or permanently and totally disabled, as well as veterans disabled in the line of duty and spouses of service members killed in the line of duty. An estimated 700,000 of Ohio’s 3.3 million homeowners qualify for the exemption. This means the provision in HB 479 would provide a one-time property tax reduction of approximately $450 to $500 for each household on the exemption.

“I have consistently fought for long overdue adjustments to Ohio’s Homestead Exemption program to get more help to our seniors and disabled citizens on fixed incomes struggling to pay their property taxes. This provision, which I spoke in favor of on the House floor, will provide some meaningful relief on next year’s property tax bills. I also urged my colleagues in the House to enact increased permanent help every year for our citizens desperately in need of a reduced property tax burden. I will continue to fight for that outcome at every opportunity,” said Rep. Troy.

This provision was included in a set of Operating Budget correction amendments that were added to HB 479 in the Senate Finance Committee earlier this week. The amendments were agreed to on the House floor on Wednesday by a vote of 89-5. 

HB 479 now goes to the governor’s desk for his signature.