The bill amends section 5705.31 and enacts section 5705.316 of the Revised Code to limit revenue increases from inside millage levies that occur due to property reappraisals or updates. The amendment specifies that the county budget commission must adjust the rate of any levy within the ten-mill limitation during tax years when a county undergoes a reappraisal or triennial update. This adjustment ensures that the increase in current taxes charged and payable does not exceed a calculated inflation factor based on the previous year's taxes. Additionally, the bill outlines the process for taxing units to request an increase in their levy rates if their current taxes do not increase compared to the base taxes.

The bill also introduces definitions for terms such as "current taxes charged and payable," "base taxes charged and payable," and "inflation factor," which are essential for implementing the new regulations. It mandates that the county budget commission must certify any adjusted rates to the county auditor by December 1st of each year, and it prohibits reallocating any mills reduced under this section to other taxing units. The changes will take effect for the tax year 2026 for real property and 2027 for manufactured or mobile homes.

Statutes affected:
As Introduced: 319.301, 323.08, 323.152, 323.155, 323.158, 323.32, 3317.01, 4503.06, 4503.065, 4503.0610, 5705.01, 5705.03, 5705.13, 5705.192, 5705.194, 5705.197, 5705.199, 5705.27, 5705.28, 5705.29, 5705.31, 5705.314, 5705.32, 5705.321, 5705.35, 5705.36, 5705.37, 5705.391, 5709.92, 5739.026, 5747.51, 5747.53, 5748.09
As Reported By House Committee: 5705.31, 5705.313
As Passed By House: 5705.31, 5705.313
As Reported By Senate Committee: 5705.31
As Passed By Senate: 5705.31
As Enrolled: 5705.31