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Senate committee hears modeling and local testimony on bill to let jurisdictions create residential stability zones
Summary
Proponents told the Senate Local Government Committee that Senate Bill 42 would let local governments create residential stability zones to limit sudden property‑tax increases for qualifying long‑time, lower‑income homeowners; county modeling presented showed modest projected millage impacts in sample communities.
The Senate Local Government Committee held a second hearing on Senate Bill 42, which would authorize local governments to designate residential stability zones (RSZs) that let qualifying homeowners apply for temporary or indefinite partial property‑tax exemptions.
Tony Long, general counsel and director of energy and environmental policy at the Ohio Chamber of Commerce, told the committee the bill would give local officials a tool to limit sudden tax spikes that can push long‑time residents toward foreclosure. "Residents of the RSZ that meet specific criteria on area median income and ownership and occupancy requirements can then apply... Applicants under…
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