The resolution proposes an amendment to Section 2 of Article XII of the Ohio Constitution, aiming to limit property taxes to a maximum of one and one-quarter percent of the true value of real property. For certain owner-occupied homes, particularly those owned by residents aged 65 and older who have lived there for at least five continuous years, the tax rate would be further reduced to one percent of the property's true value. The amendment allows for additional taxes to be levied outside of this limitation only if approved by a majority of voters in the taxing district or as specified in municipal charters.

If the amendment is approved by voters in a special election scheduled for May 5, 2026, it will take effect on January 1, 2027, repealing the existing version of Section 2 of Article XII. The resolution also outlines provisions for tax reductions for certain groups, including permanently disabled residents and surviving spouses of qualifying residents, and allows for exemptions for specific types of properties used for public or charitable purposes.