Authorizes local governments to create residential stability zones where homeowners may qualify for a partial property tax exemption.

This bill allows local governments to establish residential stability zones where homeowners may qualify for a partial property tax exemption. Homeowners in these zones can apply for an exemption that lasts up to six years, subject to renewal. To qualify, homeowners must meet certain income, asset, and ownership requirements. The bill outlines procedures for applying for and renewing the exemption, as well as grounds for denial or revocation. The exemption applies to the homeowner's primary residence, which must be a manufactured or mobile home located in Ohio.

Authorizes local governments to create residential stability zones where homeowners may qualify for a partial property tax exemption.

This bill allows local governments to establish residential stability zones where homeowners may qualify for a partial property tax exemption. Homeowners in these zones can apply for an exemption that lasts up to six years, subject to renewal. To qualify, homeowners must meet certain income, asset, and ownership requirements. The bill outlines procedures for applying for and renewing the exemption, as well as grounds for denial or revocation. The exemption applies to the homeowner's primary residence, which must be a manufactured or mobile home located in Ohio.