❌ SB42
Authorize residential stability zones with property tax exemption
Summary
SB42 authorizes local governments in Ohio to create residential stability zones where homeowners may qualify for a partial property tax exemption. The bill outlines eligibility criteria, including household income limits and minimum ownership periods, and specifies application procedures and the duration of the exemptions. The exemptions can last up to ten years, with provisions for renewal.
Rationale
The bill introduces government intervention in property taxation and creates exemptions based on income and ownership criteria, which conflicts with the Libertarian principles of minimal government involvement in economic matters and property rights. It also establishes a framework for government control over property taxes, which is contrary to the Libertarian Party's advocacy for free markets and limited government.
Risks and Concerns
- Increased government control over property taxation
- Potential for cronyism in the designation of residential stability zones
- Dependency on government exemptions may undermine personal responsibility