Ohio REALTORS has expressed its support for House Bill 129, which aims to address the issue of rising property taxes in Ohio. The organization provided testimony to the House Ways and Means Committee advocating for this proposal.
The current situation in Ohio sees many school districts at or near the 20-mill floor, a point where certain tax protections under HB 920 are no longer applicable. In these areas, increases in property values lead directly to higher tax rates without voter approval. Additionally, school districts often impose extra taxes such as emergency, substitute, and income taxes that are not included in the 20-mill floor calculation. This adds further financial pressure on homeowners.
House Bill 129 seeks to resolve this by including these additional levies within the 20-mill floor framework. This change would effectively increase a district’s recognized millage and reinstate HB 920 protections for those districts above the threshold. Consequently, it would ensure greater accountability in how school districts handle their property tax revenue and protect homeowners from unvoted tax increases.
“Property taxes are a growing concern for many Ohioans,” said Ohio REALTORS regarding their support for HB 129.
