A new bill has been introduced in the Ohio legislature that would enact a 50% reduction in the property tax of any homeowner age 65 or older, regardless of income.
Vindy.com reports the bill authored by State Sen. Al Cutrona (R-Canfield) would come in addition to the other property tax relief that seniors currently receive, including the homestead exemption that is provided to homeowning seniors with household income under $40,000.
“Whatever your current situation, this would be a clean 50% reduction,” said Cutrona. “We are taxing the elderly out of their homes at this point. It’s ridiculous. A lot of property tax reform is needed, and we are working on that. In the interim, we have to take care of our most vulnerable population, which includes our elderly.”
Cutrona said his proposed 50% reduction would cost about $1.5 billion annually, adding the funding that would have come from property taxes can be replaced with money coming from the state’s $100 billion general revenue fund.
“It sounds like a lot, and it is, but libraries alone receive $500 million a year,” Cutrona said. “We have the resources to do it. We can cut the fat off the budget. The state’s operating budget is a huge number.”
Cutrona defended his proposal that the property tax relief should not have an income limit.
“When you reach the age of 65, regardless of your income, you should be able to get a benefit on your property taxes,” he explained. “As far as I’m concerned, they’ve earned it. Many people are disqualified from the homestead exemption because of their pensions. They earned that money. That’s why I didn’t want to disqualify people. They may have had to withdraw money from their pensions.”
Property tax has become a hot-button issue in Ohio. Earlier this month, a new grassroots movement launched with the goal of eliminating property taxes for all the state’s homeowners – a goal opposed by Gov. Mike DeWine.
every state should do this..we’ve already paid for the home..taxes for 30 yrs and yet they want more
GET THE PROBERTY TAXES TAKEN CARE OF NOW. DEWINE CARES ABOUT MIGRATS THAN HE DOES OHIO SENIORS
My Husband and I have saved and saved for years to finally be able to buy a home. We finally purchased in 2020 right before Covid really hit. My husband is 100% disabled veteran and our income is limited. The taxes on our modest home is over $2000.00 a year even with the Homestead and Veteran Discount. 66.5% of our tax money for property tax goes to the local schools. We also pay into State School District taxes too. We are on a limited income. We were told that our taxes on our property went up 20% last year’s with their new evaluation. I asked the county for the comparable values, which our home increase was based on, they could not provide. Our limited income did not increase that much!!! Please get this bill passed in Ohio! Something needs to change for senior citizens.