A bipartisan group of Ohio lawmakers introduced a bill to the Ohio House of Representatives to freeze property taxes for eligible seniors.
The legislation, known as the 70 Under 70 Plan, sponsored by State Representatives Thomas Hall (R-Madison Township) and Dani Isaacsohn (D-Cincinnati), would freeze property taxes for Ohioans 70 years or older who make less than $70,000 a year and have owned their home for 10 years or more.
According to Hall, this plan will protect Ohio seniors from property tax increases and will help them stay financially stable and be able to remain in their homes.
“Our seniors have made our communities what they are today and now, it is our turn to give back to them. The 70/70 Plan will help Ohio seniors maintain financial stability and remain comfortable in their homes without the fear of losing them or questioning how they will pay for other basic necessities,” Hall said.
The bill was introduced when several local counties prepared for significant increases in taxable property values due to value revisions brought on by a booming housing market.
According to Isaacsohn, with these dramatic increases in property taxes, there is no better time to implement this legislation.
“With dramatic increases in property values, there is no better time than the present for this bill. Senior citizens should be able to stay in their communities and age, and this legislation is another step toward achieving that goal. Let’s continue to work to remove the many barriers our Seniors face in their everyday lives,” Isaacsohn said.
Under the legislation, the state would pay to make up any loss to local governments caused by the proposal’s exemption of eligible seniors from tax increases. The financial effects are yet unclear.
Neither support nor opposition testimony from interested parties has been provided for the bill at this time.
The lawmakers introduced the bill with the support of 25 additional state representatives.
The 70 Under 70 Plan awaits a bill number and committee assignment.
This is Hall’s third bill this year focused on Ohio property taxes. Lawmakers already passed Senate Bill (SB) 43, which he is a co-sponsor on, to expand the situations in which surviving spouses of disabled veterans may receive the “homestead” tax exemption.
Still ongoing is Hall’s House Bill (HB) 187, which aims to protect vulnerable Ohioans by modifying the procedures the tax commissioner uses to conduct property tax sales assessment ratio studies. The legislation is currently under review in the House Ways and Means Committee.
The Ohio Star reached out to Hall and Isaacsohn for additional comment but did not receive a reply before press time.
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Hannah Poling is a lead reporter at The Ohio Star, The Star News Network, The Arizona Sun Times, and The Tennessee Star. Follow Hannah on Twitter @HannahPoling1. Email tips to [email protected]
