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 all state and local purposes. For certain owner-occupied homes, particularly those owned by residents aged sixty-five 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 proposal is approved by a majority of voters during the special election on May 5, 2026, the amended section will take effect on January 1, 2027, and the current version of Section 2 will be repealed. The resolution also outlines provisions for tax reductions for certain groups, including permanently and totally disabled residents and surviving spouses of qualifying residents, while maintaining the authority to exempt specific properties from taxation for public and charitable purposes.