The bill amends several sections of the Revised Code to enhance property tax homestead exemptions for long-term homeowners, specifically those who have owned and occupied their homestead for twenty or more years. It allows these individuals to claim a tax reduction based on a specified property value, provided their total income does not exceed a certain threshold. The bill also extends these benefits to surviving spouses of deceased homeowners and includes provisions for disabled veterans and surviving spouses of public service officers killed in the line of duty. New legal language expands eligibility criteria, including a new category that permits qualifying individuals to claim reductions based on higher property values, with adjustments to income thresholds made annually based on economic indicators.

Additionally, the bill introduces new requirements for applicants, including a statement regarding the consequences of willfully providing false information, which could result in a three-year revocation of tax reduction rights. It allows for late applications to be filed alongside original ones and mandates that county auditors notify property owners of any charges for failing to report ineligibility. The bill also clarifies the application process for tax reductions, detailing criteria for individuals who are permanently disabled, elderly, or surviving spouses of disabled veterans. It repeals certain existing provisions while inserting new language to ensure the law reflects current practices, aiming to streamline the process for tax reductions and ensure that only eligible individuals benefit from these provisions.

Statutes affected:
As Introduced: 323.152, 323.153, 4503.065, 4503.066