Increases the standard homestead exemption for disabled veterans and their surviving spouses in Ohio.

Ohio HB261 amends the state's tax code to increase the standard homestead exemption for disabled veterans and their surviving spouses. The bill reduces real property taxes on homesteads owned and occupied by disabled veterans and their surviving spouses. The reduction applies to each year an application for the exemption is approved. The bill also adjusts the total income threshold and reduction amounts annually based on the gross domestic product deflator. The amendments apply to tax years beginning on or after the effective date of the bill.

Increases the standard homestead exemption for disabled veterans and their surviving spouses in Ohio.

Ohio HB261 amends the state's tax code to increase the standard homestead exemption for disabled veterans and their surviving spouses. The bill reduces real property taxes on homesteads owned and occupied by disabled veterans and their surviving spouses. The reduction applies to each year an application for the exemption is approved. The bill also adjusts the total income threshold and reduction amounts annually based on the gross domestic product deflator. The amendments apply to tax years beginning on or after the effective date of the bill.