Ohio House Takes Aim at Preventing Property Taxes Increases

COLUMBUS – With growing concerns over persistent increases in property taxes in many Ohio counties, state legislators at the Ohio House of Representatives like Representative Tracy Richardson (R-Marysville) are trying to ease the tax burden put on home owners. 

Property tax in Ohio is determined by the tax rate and property valuation from the previous year. In the 86th House District, Union County has the 12th highest tax rate out of Ohio’s 88 counties, collecting more than $2,400 per property per year based on the average median home value in the county.

“Union County has experienced significant growth in recent years, which has also lead to a rise in property value,” said Richardson. “The result of this increase is a rise in out-of-pocket tax payments that creates an additional burden for hard working and retired residents and that could deter new home owners from moving to the county.”

The recently introduced Ohio Homeowners Relief Act will modify the procedures used by the state Tax Commissioner to conduct property tax sales assessment ratio studies. Specifically, the bill will require the commissioner to work with local elected officials and weigh the past three years of a county’s property values in order to determine property tax.

“With property reevaluations happening every three years, especially in fast growing communities, property taxes can increase significantly for a home owner,” Richardson added. “A sales ration study can help decrease drastic tax increases and prevent putting home owners in financial difficulty.”   

The legislation will go into effect for the 2023 tax year once passed.

The Ohio Homeowners Relief Act has been introduced by State Representatives Thomas Hall (R-Madison Twp.) and Adam Bird (R-New Richmond) and currently has 13 co-sponsors. 

The Ohio Homeowners Relief Act awaits assignment to a committee.