(The Center Square) – Two lawmakers want to freeze property taxes for some after a new report showed Ohioans pay some of the highest property taxes in the nation.
Reps. Thomas Hall, R-Madison Township, and Dani Isaacohn, D-Cincinnati, unveiled what they called their 70 Under 70 Plan that holds property taxes at a rate for certain owner-occupied homes.
“Our seniors have made our communities what they are today and now, it is our turn to give back to them,” Hall said during a press conference. “The 70/70 Plan will help Ohio seniors maintain financial stability and remain comfortable in their homes without the fear of losing them or questioning how they will pay for other basic necessities.”
The Tax Foundation recently released a report that showed Ohio ranked ninth in the nation in property taxes with a 1.59% effective property tax rate for homeowners.
That report looked at numbers from 2021, the most recent data available, and showed New Jersey had the highest rate at 2.23%, followed by Illinois and New Hampshire.
Hawaii had the lowest rate at 0.32%, followed by Alabama, Colorado and Wyoming.
To be eligible for the proposed freeze, people must be 70 years old or older and their income cannot be more than $70,000 a year. Also, individuals must have owned their home for 10 years or more.
“With dramatic increases in property values, there is no better time than the present for this bill,” Isaacsohn said. “Senior citizens should be able to stay in their communities and age, and this legislation is another step toward achieving that goal. Let’s continue to work to remove the many barriers our Seniors face in their everyday lives.”
The lawmakers said the plan came about after recent property tax increases have been projected across the state.
As previously reported by The Center Square, Butler County Auditor Nancy Nix asked local taxing entities to evaluate expenses and try not to pass on a 40% increase in property taxes to local taxpayers.
She blamed the state for failing to adopt new property tax options that could impact value increases.
Hall also introduced a bill in May that would change how property is evaluated by having tax commissioners work with local elected officials and weigh the past three years of a county’s property values to determine a property tax.
That bill remains in a House committee.
