Craig Introduces Property Tax Relief and Government Support Act

Today, state Senator Hearcel F. Craig (D-Columbus) provided sponsor testimony on Senate Bill 136, which would cap annual property tax increases at 5% per year for homeowners with income at or below the county median income.

“We are in the midst of a housing crisis in Ohio, and the need for a solution to the problem of rising property taxes has never been more urgent,” said Craig. “This legislation will provide much-needed relief and help our most vulnerable Ohioans. Our goal for Ohio is to continue to provide ladders of opportunity for all of our residents and to keep people in their homes, especially our older residents so they can age in place.”

The Property Tax Relief and Local Government Support Act, Senate Bill 136, would establish a 5% cap on property tax increases annually to protect Ohio taxpayers from rising property taxes and allow residents to prepare and budget for a property tax increase.

At least 31 states have some type of property tax circuit breaker, 14 states have limits on the growth of assessed value and 28 states have some type of referral program. While Ohio has programs such as the owner-occupied and non-business credits and the homestead exemption, in many ways, these are more limited than programs offered in other states. Unlike many other states, Ohio’s proposed model includes revenue protection for local governments. 

Senate Bill 136 now awaits further hearings in the Senate Ways and Means Committee.