Levy a housing market impact tax on high-volume landlords in Ohio.

The bill levies a housing market impact tax on each person or combined taxpayer group owning fifty or more taxable houses in any county. The tax is set at two thousand dollars for each taxable house owned on the first day of each tax period. The bill also outlines procedures for refund applications, assessments, and penalties for noncompliance. It specifies that certain transfers of ownership interest in pass-through entities must be reported to county auditors. The tax revenue generated will be split between the low- and moderate-income housing trust fund and the local government fund.

Levy a housing market impact tax on high-volume landlords in Ohio.

The bill levies a housing market impact tax on each person or combined taxpayer group owning fifty or more taxable houses in any county. The tax is set at two thousand dollars for each taxable house owned on the first day of each tax period. The bill also outlines procedures for refund applications, assessments, and penalties for noncompliance. It specifies that certain transfers of ownership interest in pass-through entities must be reported to county auditors. The tax revenue generated will be split between the low- and moderate-income housing trust fund and the local government fund.