The bill amends sections 319.302, 323.152, and 4503.06 of the Revised Code to revise the computation of property tax rollbacks for owner-occupants and nonbusiness properties. Key changes include redefining qualifying properties for partial tax exemptions to include those intended for farming while excluding land used for commercial timber production. The bill also modifies the definition of "qualifying levy" and mandates that county auditors review each parcel of real property annually for exemption eligibility. Additionally, it introduces a new formula for tax reductions for homesteads owned by disabled individuals and surviving spouses, changing the reduction from a flat two dollars to seventy-five dollars plus twelve and one-half percent of taxes levied by qualifying levies, while clarifying that these reductions do not apply to special assessments.

Furthermore, the bill establishes new procedures for the taxation of manufactured and mobile homes, including a new assessment schedule based on ownership duration and a requirement for the county auditor to appraise homes at their true value upon ownership transfer. It specifies that the assessable value will be thirty-five percent of the true value and outlines the responsibilities of county officials regarding tax collection and notifications. The bill also introduces provisions for electronic delivery of tax bills, conditions for tax exemptions, penalties for late payments, and a process for addressing uncollectible taxes. Overall, these amendments aim to streamline the taxation process for manufactured homes and enhance clarity and compliance for homeowners.

Statutes affected:
As Introduced: 319.302, 323.152, 4503.06