Loychik to Introduce Legislation to Address Property Tax Increases

State Rep. Mike Loychik (R-Bazetta) will soon introduce legislation that will provide a temporary expansion for the homestead exemption, index school districts’ 20-mill floor to inflation, and stabilize the Current Agricultural Use Value (CAUV) program. 

To further help Ohioans during unprecedented property tax highs, I will be introducing the Ohio Property Tax Relief Act, which will provide relief to homeowners and farmers,” said Loychik.

Households in districts that have hit the 20-mill floor will pay more to their school districts as the value of their homes increase. The legislation aims to limit the increase of the 20-mill floor to the rate of inflation to prevent school districts from receiving a windfall of unvoted funds when home values rise.

The measure will receive a bill number and committee assignment after its formal introduction.