Wilson Approves Billions in Long Term Relief for Ohio Property Taxpayers

COLUMBUS—State Senator Steve Wilson (R-Maineville) voted alongside his colleagues in the Ohio Senate to pass major reforms to Ohio's Property Tax Laws ending the practice of tax increases without a vote of the people.

The Senate acted to pass reforms in five key areas.

• Prioritizing property tax relief for Ohioans who own and live in their homes. Homeowners will see the residential tax credit increase over the next 4 years. This will provide an additional $350 million to $400 million of property tax relief for Ohio homeowners while the nonbusiness property tax credit is phased out.
• Capping the basic automatic growth of inside millage to no more than the cumulative rate of inflation over the previous 3 years.
• Capping the growth in property taxes due to reappraisal to no more than the cumulative rate of inflation over the previous 3 years.
• Empowering County Budget Commissions to reduce unnecessary or excessive collections.
• Making existing Emergency and Substitute levies subject to the tax reduction factors.

"These bills work on behalf of the taxpayers and not unexpected tax increases that undermines homeowners' pursuit of the American Dream," said Senator Wilson. "While home prices have exploded past the rate of inflation the Senate has heard the cries from homeowners and are not only granting tax relief in the near term, but we are making sure that these unwanted spikes in property taxes will not happen again."

This will save Ohio's property taxpayers $2 billion over three years as the full force of the changes take effect.

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