The bill introduced by Senator Koehler, with cosponsorship from Senator Schaffer, aims to temporarily increase the homestead exemptions for property taxes in Ohio. Specifically, for tax year 2025, the bill stipulates that the amount of taxes on real property will be doubled for reductions authorized under section 4503.065 and division (A) of section 323.152 of the Revised Code. For tax year 2026, this doubling applies to manufactured or mobile homes. Importantly, the bill clarifies that this increase will not affect any reductions authorized under section 319.304 of the Revised Code for the respective tax years.

Additionally, the bill mandates that the increased reduction for property taxes will be applied entirely against the second-half tax bill for the respective tax year. The legislation is classified as an emergency measure, emphasizing the urgent need to provide immediate tax relief to Ohio's most vulnerable taxpayers, and it is set to take effect immediately upon passage.