Ohio HB421 allows electors to reduce property tax rates and prevents reallocation of reduced mills.
Ohio HB421, known as the Taxpayers Freedom Trilogy – Act Two: Arresting Inside Millage, enables electors to initiate a reduction in property tax rates within the ten-mill limit through a petition process. If the petition is deemed valid, the question is submitted to voters at the next general election. If approved, the tax rate is reduced starting January 1 of the following year. The bill also prohibits county budget commissions from reallocating reduced tax rates to other subdivisions or taxing units without voter approval.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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