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 is limited to one homestead per disabled veteran or their surviving spouse and replaces any previous tax reductions available under the law. The bill also clarifies that the exemption for the surviving spouse will commence in the year of the veteran's death or when the spouse first receives a total disability rating.

Furthermore, the bill addresses 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. This exemption is limited to one manufactured or mobile home per disabled veteran or surviving spouse and is contingent upon not acquiring ownership from a related person for qualification. The bill also extends similar tax relief to surviving spouses of public service officers killed in the line of duty. It repeals existing sections 323.152 and 4503.065 and establishes that the amendments will apply to tax years 2025 and 2026, with language changes emphasizing the nature of the tax relief by replacing "reduction" with "exemption" in various contexts.

Statutes affected:
As Introduced: 323.152, 4503.065