❌ HB273
Modify certain property tax rollbacks
Summary
HB273 modifies the computation of the owner-occupancy property tax rollback and the applicability of the nonbusiness property tax rollback in Ohio. It establishes criteria for partial exemptions from real property taxation for certain properties and mandates annual reviews by county auditors to determine eligibility for these exemptions. The bill also outlines the procedures for tax reductions and the responsibilities of county auditors and treasurers in administering these changes.
Rationale
The bill increases government control over property taxation and does not align with the Libertarian principles of minimal government intervention and free market economics. It imposes regulations and tax structures that contradict the Libertarian Party's advocacy for reduced taxation and government spending.
Risks and Concerns
- Increased government intervention in property taxation
- Potential for bureaucratic inefficiencies
- Disincentives for property ownership and investment