✔️ HB420
Enact Taxpayers Freedom Trilogy–Act I:Discontinuing the Continuum
Current Status: In House Committee (Ways and Means)
Summary
The bill proposes to amend various sections of the Ohio Revised Code to disallow and eliminate property taxes levied for a continuing period of time by 2030. It also introduces a new section that outlines the process for levying taxes for specified purposes, including current expenses and permanent improvements, while ensuring that existing levies are not extended beyond their approved terms.
Rationale
The bill aligns with Libertarian principles by aiming to reduce government taxation and control over property taxes, promoting individual financial freedom. However, it still allows for some taxation mechanisms, which may not fully align with the LPO's platform advocating for the repeal of property taxes.
Risks and Concerns
- Potential for increased government reliance on alternative tax mechanisms.
- May not fully eliminate financial burdens on citizens if new taxes are introduced.