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Sponsors propose $56,000 homestead exemption for homeowners with 20+ years in residence
Summary
House Bill 143 would increase the homestead exemption from $28,000 to $56,000 for homeowners who have owned and occupied their primary residence at least 20 years and meet existing homestead income qualifications; sponsors said the state would reimburse local taxing units as it currently does.
The House Ways and Means Committee heard testimony on House Bill 143, a reintroduced measure that would provide an enhanced homestead exemption of $56,000 — up from the current $28,000 — for Ohio homeowners who have owned and occupied their primary residence for at least 20 years and meet existing income eligibility rules.
Representatives Matthews and Brennan, both sponsors and current or former members of the Ways and Means Committee, framed the bill as targeted…
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