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 exempt 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 applies to only one homestead per disabled veteran or their surviving spouse and is in lieu of any other tax reductions under existing law. The bill also clarifies that the exemption for the surviving spouse will begin in the year of the veteran's death or the first year the spouse receives a total disability rating.

Furthermore, the bill amends tax provisions related to manufactured and mobile homes owned and occupied by disabled veterans and their surviving spouses, exempting these homes from the manufactured home tax for any tax year in which an application for exemption has been approved. The exemption applies only to one manufactured or mobile home per disabled veteran or surviving spouse and is contingent upon not acquiring ownership from a related person for the purpose of qualifying for the exemption. The bill also introduces provisions for the tax treatment of homes owned by the surviving spouses of public service officers killed in the line of duty, allowing for similar exemptions under specified conditions. It repeals existing sections 323.152 and 4503.065 and specifies that the amendments will apply to tax years 2025 and 2026.

Statutes affected:
As Introduced: 323.152, 4503.065