The bill amends various sections of the Revised Code to establish a property tax deferral program for eligible homeowners, particularly those who are permanently and totally disabled or have a total income not exceeding 250% of the federal poverty level. Key amendments include the introduction of new sections 323.21 and 323.22, which require homeowners to submit a statement regarding their property tax status when transferring property. The bill also mandates that tax bills reflect any deferrals under section 323.21 and clarifies definitions and processes related to property tax exemptions and reductions. Additionally, it requires county auditors to certify the total amount of taxes reduced due to these deferrals, ensuring accountability in tax management.

Moreover, the bill outlines the application process for deferring taxes, which must be submitted by December 31 of the relevant tax year, and specifies how deferred taxes will be calculated based on income. It allows for a continuing application process and provides a payment plan for deferred taxes. The bill also includes provisions for manufactured homes and residential rental properties, requiring county treasurers to certify the total amount of manufactured home taxes levied, including those deferred. It mandates that owners of residential rental properties file specific information with the county auditor and updates within sixty days of any changes. The bill repeals several existing sections of the Revised Code and clarifies that the amendments will apply to tax years ending on or after the effective date for real property and beginning on or after the effective date for manufactured homes.

Statutes affected:
As Introduced: 319.202, 319.302, 323.155, 323.158, 4503.0610, 5323.02