Ohio has a few bills on their docket that are seeking to reduce property taxes amidst a time in which they are steadily rising in cost. Currently, there are around one dozen bills with similar goals that are being brought forth at the Ohio statehouse. However, one is being pushed forward the most, having a strong likelihood of actually making its way to a final vote. It has already passed the House ways and Means Committee with a passing vote of 10 to 6. The bill is being promoted by two representatives in particular, both Republicans. Representative Adam Mathews and Representative Thomas Hall are the two leading sponsors of House Bill 344.
Specifically, the bill seeks to eliminate replacement property tax levies.
Property tax levies often make their way onto the ballots in many different forms. Even this go around, there are several that are expected to be on the same ballot as this measure. House Bill 344 seeks to prevent one particular type of levy from continuing to pop up, a replacement levy. Replacement levies are often misunderstood due to their complexities, so they continue to slip under the radar of many voters and therefore keep getting passed.
A replacement levy essentially is a surefire way to guarantee regular property tax increases. It calls for a “replacement” tax, in which the tax is recalculated every so often based on the latest evaluation of your home. In most cases, the value of a home increases as time goes on. This means that each time it is re-evaluated, your property taxes could increase. House Bill 344 will ideally put a stop to that.
Rep. Mathews felt passionately that replacement levies are unjustified and unreasonable.
In a statement regarding House Bill 344, he explained that ultimately, the home value is the same as it continues to provide the same benefit to the owner. However, as time goes on, they are expected to pay more for it. Additionally, replacement levies in particular are usually written deceptively to give voters false hope for a chance at a tax rate decrease, which is virtually unheard of in actuality.
