North Columbus News

The Ohio House has passed House Bill 96, a two-year state operating budget, after making significant policy changes. These adjustments were made during the House committee process following Governor Mike DeWine's initial unveiling of the plan. The 5,000-page legislation, which outlines the state's spending priorities through fiscal year 2027, now moves to the Ohio Senate for further consideration.

Ohio REALTORS have been actively involved in lobbying for provisions regarding property taxes and housing. Currently, there is a provision in the budget that demands county budget commissions to lower property tax rates for schools with over 30% of their budget carried over from the previous year. Ohio REALTORS will continue discussions with lawmakers to ensure meaningful property tax relief.

Several key initiatives included in the House-passed budget are highlighted by Ohio REALTORS:

1. The creation of a Housing Accelerator Fund with a $2.5 million annual budget to support pro-housing policies in townships and municipalities.

2. Amendments to clarify real estate representation agreements, addressing previous ambiguities under House Bill 466.

3. Expanded eligibility for the Welcome Home Ohio grants now includes non-profits like Habitat for Humanity.

4. A $250 million allocation for the Brownfield Remediation Fund in FY 2026, alongside $20 million annually for the Building Demolition and Site Revitalization Fund.

5. Modifications to property tax challenges rules, building upon previous protective legislation for property owners.

6. An increase in the Lead Abatement tax credit from $10,000 to $50,000 to encourage lead hazard remediation.

7. The rise of the Historic Building Rehabilitation Tax Credit from $60 million to $90 million, though less than the $120 million proposed by the Governor. However, it excludes the refundable tax credit for owner-occupied historic homes initially proposed in the executive budget.

Certain proposals did not make the final House version of the bill. The Ohio Housing Investment Opportunity Program, proposed to receive a $100 million investment, was removed. Additionally, the requirement for county recorders to allocate a portion of Housing Trust Fund fees to the Department of Development was eliminated. These funds will remain in the collecting county for housing-related use.

Moreover, the budget reduces funding for lead abatement efforts and eliminates the Lead-Safe Home Fund Program. The budget now earmarks $250,000 annually for local lead cleanup projects, down from the proposed $500,000.

House Bill 96 must be finalized and signed by Governor DeWine by June 30th. Ohio REALTORS will remain engaged in the Senate deliberations to advocate for their members' interests.

House Bill 96 will next be reviewed by the Ohio Senate, with a final passage deadline of June 30th. Ohio REALTORS intend to stay engaged through the legislative process, aiming to protect their members' interests.