The bill amends the Revised Code to enable local governments in Ohio to create residential stability zones, which will allow homeowners within these areas to qualify for partial property tax exemptions aimed at promoting residential stability. Key provisions include new legal language regarding tax exemptions under section 5709.29, which affects the assessment of manufactured or mobile homes for tax purposes. The bill also modifies existing tax regulations, clarifying the conditions under which manufactured homes are taxed and detailing the process for determining their assessable value. This legislation seeks to enhance local governance in managing property taxes while providing financial relief to homeowners in designated stability zones.

Additionally, the bill establishes eligibility criteria for homeowners seeking tax exemptions, including income limitations and asset ownership restrictions. Homeowners aged sixty or older are granted indefinite or six-year exemptions based on their circumstances. The bill also outlines the responsibilities of the county auditor in managing delinquent taxes and maintaining an updated list of exempt properties, while ensuring that tax-exempt status is preserved during certain property transfers. It mandates notification to school boards regarding exemption applications and requires a certificate from the county treasurer confirming all taxes owed have been paid. Overall, the legislation aims to provide clearer guidelines for tax exemptions and support for homeowners while ensuring compliance with established criteria.

Statutes affected:
As Introduced: 4503.06, 5713.07, 5713.08, 5715.27