❌ HB103
Increase the homestead exemption amount and income limit
Summary
The bill amends sections 323.152 and 4503.065 of the Revised Code to increase the homestead exemption amount and income limit for qualifying individuals, including those who are permanently disabled, aged 65 or older, or surviving spouses of such individuals. It adjusts the income threshold for eligibility and specifies the calculation methods for tax reductions based on property value and effective tax rates. The changes apply to tax years 2025 and 2026 respectively.
Rationale
The bill increases government involvement in taxation and benefits, which conflicts with the Libertarian principles of minimal government intervention and free markets. It also establishes income limits and exemptions that could be seen as government overreach, opposing core Libertarian values.
Risks and Concerns
- Increased government control over property taxation
- Potential for cronyism in tax exemption processes
- Encouragement of dependency on government benefits