❌ SB28
Levy a tax on certain high-volume landlords
Current Status: In Senate Committee (Housing)
Summary
The bill levies a tax of $2,000 on each high-volume landlord owning 50 or more taxable houses in Ohio, effective from January following its enactment. It requires landlords to file tax returns monthly and includes penalties for non-compliance. The tax revenue is allocated to a housing market impact tax revenue fund, which supports low- and moderate-income housing and local government funds.
Rationale
The bill imposes a new tax on property owners, which conflicts with Libertarian principles of minimal government intervention and taxation. It also creates additional regulatory burdens on landlords, undermining property rights and free market principles.
Risks and Concerns
- Increased financial burden on landlords may lead to higher rents for tenants.
- Potential for reduced housing availability as landlords may sell properties to avoid taxes.
- Encourages government overreach into private property management.