The bill amends sections 323.152, 323.153, and 323.156 of the Revised Code to introduce a temporary property tax credit of $300 per year for individuals who have continuously owned and occupied a homestead or manufactured home in Ohio. This credit is applicable for the first tax year following the amendment's effective date and for the subsequent four years, with a stipulation that the resulting tax liability cannot fall below zero. Additionally, the bill streamlines the application process by requiring documentation to prove eligibility for the new tax reduction and allows for late applications to be filed alongside original ones, enabling county auditors to refund any overpayments.

Moreover, the bill establishes new obligations for property owners to notify county auditors if they no longer qualify for tax reductions, imposing penalties for non-compliance. It also outlines the certification process for tax reductions to the tax commissioner and details the reimbursement process for counties, including provisions for collecting charges and interest on improperly granted reductions. The bill repeals certain existing sections of the Revised Code related to tax reductions and harmonizes previous legislative amendments, expanding definitions of qualifying reductions and clarifying the roles of county auditors and treasurers in administering these exemptions.

Statutes affected:
As Introduced: 323.152, 323.153, 323.156