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Sponsors present pilot to allow limited property tax deferrals for homeowners (HB 483)
Summary
HB 483 would let eligible owner-occupied homeowners apply to defer up to 10% of their home's value in property taxes (3% interest), limited to homes under $750,000 and income caps; sponsors described a revolving fund to reimburse local governments and recover payments upon sale or transfer. Committee members questioned caps, senior targeting and seed funding.
The Ohio House Ways and Means Committee heard sponsor testimony on House Bill 483, a pilot program allowing eligible homeowners to defer a portion of property taxes under specified conditions.
Representative Williams, the sponsor, described the proposal as a tool to address spikes in property taxes that can force homeowners from their homes. Under the bill as presented, homeowners in owner-occupied dwellings valued under $750,000 who meet income caps could defer…
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