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Rep. Richardson’s subbill raises homestead exemption eligibility to $55,000 and splits cost with local governments
Summary
The House Ways and Means Committee accepted a subbill to House Bill 261 that raises income eligibility for the homestead exemption to $55,000, allows counties to adopt a local homestead exemption, and directs the state to reimburse half the value of any locally adopted exemption (about $12,500 of a $25,000 exemption).
The House Ways and Means Committee on Monday accepted a subbill to House Bill 261 that would raise income eligibility for Ohio’s homestead exemption to $55,000 and authorize counties to adopt a local homestead exemption with the state reimbursing half the locally adopted value.
Representative Rebecca Richardson, who moved the amendment, said the change is aimed at giving seniors immediate relief from rising property-tax bills caused by sharply increasing home values. "Seniors deserve better in their golden years," Richardson said, arguing the measure protects homeowners…
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