COLUMBUS, Ohio — The Ohio House of Representatives has passed House Bill 274, a bipartisan measure aimed at providing enhanced property tax exemptions for homeowners who have lived in their residences for two decades or longer. The bill passed with a vote of 78-11 and now heads to the Senate for consideration.
The legislation would amend sections of the Ohio Revised Code to establish a $50,000 homestead exemption for long-term homeowners, supplementing existing exemptions for seniors, disabled veterans, and surviving spouses of public safety officers. To qualify, homeowners must also meet income limits under the current general homestead exemption, which is adjusted annually for inflation.
If enacted, the exemption would begin with property taxes in 2025 and manufactured or mobile home taxes in 2026. The measure also includes provisions for state reimbursement to local taxing authorities for revenue lost due to the expanded exemption.