Another strategy for lowering Ohio’s property taxes has been brought forth with a new bill that would give counties the ability to lower property taxes if the amount collected is more than needed.
WCMH reports House Bill 309, introduced by David Thomas (R-Jefferson), would require county-level budget commissions to hold annual reviews of the taxing authorities’ budgets. If a local government is collecting more money than is needed by a public entity, such as a school or law enforcement agency, budget commissions will have the power to suspend or reduce tax rates.
“If the local government doesn’t actually need the full amount of that revenue, or if they’re providing the service for less, or can, why should the taxpayers still be charged a much higher tax rate?” said Thomas, who added his bill was folded into larger property tax relief overhaul legislation that seeks to bring $3.5 billion in property tax relief, according to Thomas.
The new bill is the latest effort to address the lowering of Ohio’s property tax. Other initiatives include a bill that would cut property taxes for seniors by 50%, regardless or their income, while another movement is seeking a constitutional amendment that would abolish property taxes.
“Clearly, our taxpayers are telling us across Ohio that the current status quo is not working,” Thomas stated.
