Ohio auditors, including McKee, back bid to improve law
Holmes County Auditor Jackie McKee
The legislative committee of the County Auditors’ Association of Ohio voted to support Rep. Jason Stephens’ (R-Kitts Hill) bill, HB 439, to protect the pocketbooks of low-income seniors and disabled veterans by improving the state’s homestead exemption law. The committee’s vote came during a recent meeting of the CAAO executive and legislative committees.
Generally the homestead exemption allows low-income senior citizens and disabled veterans to reduce their property-tax burden by lowering the market value of their homes for tax purposes. However, Ohio’s homestead exemption currently does not adjust for inflation. It has remained the same dollar amount for many years.
The bill requires the amount of each homestead exemption to be adjusted for inflation each year. Under current law the exemption equals the taxes that would be charged on up to $25,000 of the true value of the home owned by a qualifying individual. This legislation is designed to increase the amount of the homestead exemption every year by the same rate of inflation in current law used to calculate the income eligibility of the homestead exemption.
The adjustment each year will be relatively small, but for those who are most disadvantaged by inflation — those living on a fixed income — the benefit, over time, will be significant.
“I have seen firsthand the relief the homestead exemption provides for senior citizens and disabled veteran homeowners,” Holmes County Auditor Jackie McKee said. “This bill will provide additional assistance, is easy to administer and would have no impact on school or other local government funding.”
Currently 2019 income eligibility for the homestead exemption is $33,600 state adjusted gross. Call 330-674-1896 for more information.