The bill amends sections 323.152 and 4503.065 of the Revised Code to provide a total property tax exemption for the homesteads of totally disabled veterans and their surviving spouses. It establishes that real property taxes on a homestead owned and occupied by a disabled veteran will be exempted from taxation, while taxes on a homestead in a housing cooperative occupied by a disabled veteran will be reduced by the portion of taxes attributed to the homestead. This exemption or reduction is limited to one homestead per eligible individual and replaces any previous tax reductions available under the law. The bill also clarifies that the exemption for the surviving spouse begins in the year of the veteran's death or when the spouse receives a total disability rating.

Additionally, the bill amends tax provisions related to manufactured and mobile homes owned by disabled veterans and their surviving spouses, exempting these homes from the manufactured home tax, contingent upon an approved application. It specifies that the exemption applies to only one home per eligible individual and is in lieu of any other tax reductions. The legislation introduces new language regarding the calculation of the exemption, replacing references to tax reductions with exemptions, and establishes that no exemptions will be granted to individuals convicted of certain violations for three years following their conviction. The bill repeals existing sections 323.152 and 4503.065 and applies the amendments to tax years 2025 and 2026, aiming to provide financial relief to eligible veterans and their families.

Statutes affected:
As Introduced: 323.152, 4503.065