The bill amends sections 323.131 and 4503.06 of the Revised Code and enacts section 5705.171, with the goal of improving transparency in property taxation. It mandates that tax bills must express tax rates as a percentage of true value, in addition to the traditional millage rate, with the term "effective tax rate" highlighted in bold. This requirement extends to manufactured or mobile homes, ensuring uniformity across different property types. The bill also introduces new obligations for tax bills related to residential rental properties and requires county auditors and treasurers to post the percentage of property taxes charged by each taxing unit on their websites.

Starting January 1, 2026, the bill requires that any election notice or ballot language regarding real property taxes must include the proposed tax as a percentage of true value. The secretary of state will oversee the format of these notices and ballots to ensure compliance. Additionally, county auditors must include this percentage information in their certifications to taxing authorities. The bill repeals existing sections 323.131 and 4503.06, which may pertain to prior tax assessment or collection procedures, further aiming to provide voters with clearer insights into the tax implications of proposed millage rates.

Statutes affected:
As Introduced: 323.131, 4503.06