Ohio SB215 modifies homestead exemption calculation and eligibility criteria.
Ohio SB215 amends the calculation and eligibility criteria for homestead exemptions. It adjusts the income threshold and reduction amounts based on the gross domestic product deflator. The bill also specifies the percentage reductions for different income percentiles and applies these reductions to real property taxes on homesteads and manufactured home taxes. The reductions are applicable to certain individuals, including disabled veterans and their surviving spouses, and are subject to annual adjustments.
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