❌ HB261
Increase the amount of the standard homestead exemption
Summary
This bill amends sections 323.152 and 4503.065 of the Revised Code to increase the standard homestead exemption for property taxes. It applies to individuals who are permanently disabled, aged 65 or older, or surviving spouses of such individuals, and establishes a new income threshold for eligibility. The bill also outlines the process for annual adjustments to the exemption amounts based on economic indicators.
Rationale
The bill increases government intervention in property taxation and does not align with Libertarian principles of minimal government and reduced taxation. It establishes new tax exemptions that could be seen as a form of government redistribution, conflicting with the Libertarian emphasis on individual property rights and limited government.
Risks and Concerns
- Increased government dependency on tax exemptions
- Potential for misuse of tax exemption criteria
- Encouragement of government intervention in private property rights