The bill amends the Revised Code to implement a property tax freeze for certain owner-occupied homes, specifically targeting individuals who are sixty-five years of age or older, permanently and totally disabled, or surviving spouses of such individuals. It introduces a new section, 4503.0612, which establishes eligibility criteria for tax reductions, including a new category that allows for a reduction if the current year's taxes exceed those of the previous year, contingent upon meeting specific income and property value thresholds. The bill also clarifies existing language regarding income thresholds and the application process, ensuring that the tax commissioner adjusts these thresholds annually based on economic indicators. Additionally, it includes provisions for disabled veterans and surviving spouses of public service officers killed in the line of duty, thereby enhancing financial relief for vulnerable populations.

Furthermore, the bill modifies existing laws related to the taxation of manufactured and mobile homes, detailing procedures for tax assessment, payment, and collection. It mandates that county auditors record the assessable value and tax amount by January 15 each year and allows homeowners to change their tax classification. The bill also introduces new provisions for tax reductions based on disabilities or veteran status, requiring specific documentation for applications. It establishes a continuing application process for tax reductions and outlines the responsibilities of county auditors in certifying and notifying applicants. Additionally, the bill repeals several existing sections of the Revised Code that are now superseded by these amendments, ensuring the new provisions take effect for tax years beginning after the bill's effective date.

Statutes affected:
As Introduced: 323.152, 323.153, 323.158, 4503.06, 4503.066, 4503.067, 4503.068, 4503.069, 4503.0610