Richardson Introduces Legislation Expanding Homestead Exemptions for Veterans

COLUMBUS – State Representative Tracy Richardson (R-Marysville) has introduced new legislation to provide property tax relief to Ohio’s disabled veterans. 

The legislation, House Bill 254, will expand the enhanced homestead exemption to 100% of a home’s true value from the current cap of $50,000. Honorably discharged veterans who have a 100% disability rating will be eligible for this new exemption. 

“Our disabled veterans have made great sacrifices for our nation,” said Richardson. “Here in Ohio, we want our veterans to know that we appreciate those sacrifices. As property values continue to rise across the state, it is crucial that we act now to protect veterans. By reducing their property taxes, we also reduce the financial burden placed on these brave men and women and their families.” 

Richardson’s legislation will also expand eligibility for a homestead exemption to veterans based on their disability rating. Veterans with a disability rating of 70% or more will be able to exempt $10,000 of their home’s true value. A disability rating of 50% to 70% will qualify for a $5,000 exemption.

House Bill 254 is joint sponsored by Representative Adam Holmes (R-Nashport) and has not yet been assigned to a House committee.