❌ HB61
Modify homestead exemption, owner-occupancy tax credit amount
Summary
The bill modifies the homestead exemption and owner-occupancy property tax credit in Ohio, establishing criteria for partial exemptions based on property use and the status of the property owner, including age and disability. It requires annual reviews by county auditors to determine eligibility and outlines the process for tax reductions and adjustments. The changes apply to tax years ending on or after the effective date of the amendments.
Rationale
The bill increases government control over property taxation and does not align with the Libertarian principles of minimal government interference and the protection of individual property rights. It imposes criteria for tax exemptions that could be seen as a form of government overreach, conflicting with the Libertarian emphasis on free markets and limited taxation.
Risks and Concerns
- Increased government control over property taxation
- Potential for bureaucratic inefficiency in tax exemption reviews
- Disincentives for property ownership and investment