The bill amends sections 323.152, 323.153, and 323.156 of the Revised Code to establish a temporary property tax credit for certain continuously owned homesteads, introducing a new division (C) to section 323.152. This division provides a $300 reduction in real property taxes for each year an application is approved for individuals who have continuously owned and occupied a homestead or manufactured home in Ohio for the preceding years. The reduction is applicable for the first tax year ending after the bill's effective date and the following four tax years. The bill also clarifies eligibility criteria and the application process, including documentation requirements for various categories of applicants, such as disabled veterans and surviving spouses of public service officers.

Additionally, the bill allows for late applications for tax reductions to be filed alongside original applications, enabling county auditors to determine and refund any overpayments. It mandates property owners or occupants to notify the county auditor if they no longer qualify for tax reductions, with penalties for non-compliance. The county auditor is required to send out continuing applications annually to those receiving tax reductions, and the bill modifies procedures for certifying tax reductions to the tax commissioner while outlining the reimbursement process for counties. It also repeals existing sections of the Revised Code that are replaced by these new provisions, streamlining the administration of tax reductions.

Statutes affected:
As Introduced: 323.152, 323.153, 323.156