Vote Smart's Synopsis:

Vote to concur with Senate amendments and pass a bill that establishes a cap on property tax revenue growth for homeowners in more than three-quarters of districts in Ohio at what's known as the 20 mill floor.

Highlights:

• Establishes a reduction in real property taxes or manufactured home taxes levied on a qualifying nonbusiness property by a school district or joint vocational school, with the following requirements (Sec. 1): 

• The nonbusiness property is located in a school district where the floor tax revenue for qualifying nonbusiness property exceeds its indexed property tax revenue for such property; or

• The nonbusiness property is located in a joint vocational school district where the floor tax revenue for qualifying nonbusiness property exceeds its indexed property tax revenue for such property.

• Establishes a reduction in real property taxes levied on a qualifying business property by a school district, with the following requirements (Sec. 1): 

• The business property is located in a school district where the floor tax revenue for qualifying nonbusiness property exceeds its indexed property tax revenue for such property; or

• The business property is located in a joint vocational school district where the floor tax revenue for qualifying nonbusiness property exceeds its indexed property tax revenue for such property.

• Requires the tax commissioner to determine and certify the percentage change in the gross domestic product deflator to each county auditor whose county undergoes a reappraisal or triennial update, for the purpose of the previous paragraph regarding business property (Sec. 1).

• Specifies that the reduction in real property taxes detailed in this Act only apply to school districts or joint vocational school districts in a county that undergoes a reappraisal or triennial update in that tax year (Sec. 1).

• Specifies that this Act applies to tax year 2025 for property on the real property tax list, and tax year 2026 for property on the manufactured home tax list (Sec. 3).

Full Bill Text

Vote Smart's Synopsis:

Vote to amend and pass a bill that establishes a cap on property tax revenue growth for homeowners in more than three-quarters of districts in Ohio at what's known as the 20 mill floor.

Highlights:

• Establishes a reduction in real property taxes or manufactured home taxes levied on a qualifying nonbusiness property by a school district or joint vocational school, with the following requirements (Sec. 1): 

• The nonbusiness property is located in a school district where the floor tax revenue for qualifying nonbusiness property exceeds its indexed property tax revenue for such property; or

• The nonbusiness property is located in a joint vocational school district where the floor tax revenue for qualifying nonbusiness property exceeds its indexed property tax revenue for such property.

• Establishes a reduction in real property taxes levied on a qualifying business property by a school district, with the following requirements (Sec. 1): 

• The business property is located in a school district where the floor tax revenue for qualifying nonbusiness property exceeds its indexed property tax revenue for such property; or

• The business property is located in a joint vocational school district where the floor tax revenue for qualifying nonbusiness property exceeds its indexed property tax revenue for such property.

• Requires the tax commissioner to determine and certify the percentage change in the gross domestic product deflator to each county auditor whose county undergoes a reappraisal or triennial update, for the purpose of the previous paragraph regarding business property (Sec. 1).

• Specifies that the reduction in real property taxes detailed in this Act only apply to school districts or joint vocational school districts in a county that undergoes a reappraisal or triennial update in that tax year (Sec. 1).

• Specifies that this Act applies to tax year 2025 for property on the real property tax list, and tax year 2026 for property on the manufactured home tax list (Sec. 3).

Full Bill Text

Vote Smart's Synopsis:

Vote to amend and pass a bill that establishes a cap on property tax revenue growth for homeowners in more than three-quarters of districts in Ohio at what's known as the 20 mill floor.

Highlights:

• Establishes a reduction in real property taxes or manufactured home taxes levied on a qualifying nonbusiness property by a school district or joint vocational school, with the following requirements (Sec. 1): 

• The nonbusiness property is located in a school district where the floor tax revenue for qualifying nonbusiness property exceeds its indexed property tax revenue for such property; or

• The nonbusiness property is located in a joint vocational school district where the floor tax revenue for qualifying nonbusiness property exceeds its indexed property tax revenue for such property.

• Establishes a reduction in real property taxes levied on a qualifying business property by a school district, with the following requirements (Sec. 1): 

• The business property is located in a school district where the floor tax revenue for qualifying nonbusiness property exceeds its indexed property tax revenue for such property; or

• The business property is located in a joint vocational school district where the floor tax revenue for qualifying nonbusiness property exceeds its indexed property tax revenue for such property.

• Requires the tax commissioner to determine and certify the percentage change in the gross domestic product deflator to each county auditor whose county undergoes a reappraisal or triennial update, for the purpose of the previous paragraph regarding business property (Sec. 1).

• Specifies that the reduction in real property taxes detailed in this Act only apply to school districts or joint vocational school districts in a county that undergoes a reappraisal or triennial update in that tax year (Sec. 1).

• Specifies that this Act applies to tax year 2025 for property on the real property tax list, and tax year 2026 for property on the manufactured home tax list (Sec. 3).

Full Bill Text