The bill, introduced by Representatives Daniels and Workman, seeks to amend sections 323.131 and 4503.06 of the Revised Code and enact section 5705.171, with a primary focus on enhancing transparency in property tax assessments. It mandates that tax rates on tax bills and ballot language be expressed as a percentage of true value, in addition to the traditional presentation in mills. Specifically, tax bills must include the effective tax rate in both formats, with the term "effective tax rate" highlighted in boldface type. This requirement extends to tax bills for manufactured or mobile homes, ensuring that all property owners have clear and accessible information regarding their tax obligations.

Additionally, the bill introduces new legal language that requires, starting January 1, 2026, any election notice or ballot language expressing the millage of a tax on real property to also include the proposed tax as a percentage of true value. The secretary of state will prescribe the format for these notices and ballots, while county auditors must include this percentage information in their certifications to taxing authorities. The bill also repeals existing sections 323.131 and 4503.06, which may pertain to previous tax regulations, further streamlining the process and improving clarity for Ohio residents regarding tax implications.

Statutes affected:
As Introduced: 323.131, 4503.06