Authorizes tax credit or rebate for homeowners and renters with high property taxes or rent.

The bill authorizes a refundable income tax credit or rebate for homeowners and renters in Ohio whose property taxes or a portion of their rent exceeds five percent of their income. Eligible claimants can receive a credit or rebate based on the amount by which their property tax due or rent-equivalent tax paid exceeds five percent of their total household resources. The credit or rebate is subject to certain limits and adjustments based on the gross domestic product deflator.

Authorizes tax credit or rebate for homeowners and renters with high property taxes or rent.

The bill authorizes a refundable income tax credit or rebate for homeowners and renters in Ohio whose property taxes or a portion of their rent exceeds five percent of their income. Eligible claimants can receive a credit or rebate based on the amount by which their property tax due or rent-equivalent tax paid exceeds five percent of their total household resources. The credit or rebate is subject to certain limits and adjustments based on the gross domestic product deflator.