Senate Passes Schaffer Bill Clarifying Property Tax Issue
February 24, 2021
Tim Schaffer News
COLUMBUS—State Senator Tim Schaffer (R-Lancaster) today announced the unanimous passage of Senate Bill 19 by the Ohio Senate. The bill, sponsored by Schaffer, clarifies in the Ohio Revised code that 501c (3) non-profits are exempt from paying property taxes on any property used for wetland mitigation projects.
Wetland mitigation projects are primarily used to offset environmental costs and impacts to wetlands as a result of new infrastructure development. According to the United States Department of Agriculture (USDA) mitigation projects include the creation, restoration, or enhancement of wetlands. Currently, these properties are subject to taxation by local governments.
“The addition of property taxes, more so than anything else, hurts economic development and job creation in our state,” Schaffer said. “This bill is a simple codification of something that has been routinely practiced for decades and has zero fiscal impact to state or local governments. The wetland mitigation policy dates back to the ‘no net loss’ initiatives started under President George H.W. Bush.”
Senate Bill 19 now heads to the Ohio House for further consideration.
Wetland mitigation projects are primarily used to offset environmental costs and impacts to wetlands as a result of new infrastructure development. According to the United States Department of Agriculture (USDA) mitigation projects include the creation, restoration, or enhancement of wetlands. Currently, these properties are subject to taxation by local governments.
“The addition of property taxes, more so than anything else, hurts economic development and job creation in our state,” Schaffer said. “This bill is a simple codification of something that has been routinely practiced for decades and has zero fiscal impact to state or local governments. The wetland mitigation policy dates back to the ‘no net loss’ initiatives started under President George H.W. Bush.”
Senate Bill 19 now heads to the Ohio House for further consideration.