The 136th General Assembly of Ohio has proposed a joint resolution to amend the state constitution by enacting Section 2b of Article XII, which aims to provide a partial tax exemption for the increased value of owner-occupied residences. This exemption would apply to the extent that the appraised value of a homestead exceeds its appraised value from the previous tax year, adjusted for inflation, starting January 1, 2028. The exemption would remain in effect as long as the homestead is owned by the same individual or their spouse. However, any improvements made to the homestead would not be exempt unless they are repairs or replacements for damages that previously received a tax deduction.

The resolution stipulates that the proposal will be submitted to Ohio voters during the primary election on May 4, 2027. If approved by a majority of voters, the new section will take effect immediately. The resolution also defines key terms such as "homestead," which includes manufactured or mobile homes, and outlines how the inflation percentage will be calculated based on economic data. This initiative seeks to alleviate the tax burden on homeowners by protecting them from significant tax increases due to rising property values.