COLUMBUS, Ohio (WCMH) – There is a new push at the Ohio Statehouse to freeze property taxes for some Ohioans. The new bill, which does not yet have a bill number, is known as the 70 under 70 plan.
Representatives Thomas Hall (R-Madison Township) and Dani Isaacsohn (R-Cincinnati) introduced the bill, which has 25 co-sponsors.
“This legislation will help Ohio seniors maintain financial stability and remain comfortable in their homes without the fear of losing them or question how they will pay for their basic necessities such as groceries and health care,” Hall said.
The plan will freeze property taxes for certain seniors.
Ohioans can apply if three things are true:
- They are 70 or older.
- Their income does not exceed $70,000.
- They have owned their home for 10 or more years.
This comes as the state tax commission is recommending an increase in property value. The bill’s sponsors said that the cost to the state will be well worth it to help seniors and that the state can afford to do this with help from the general revenue fund.
“This would keep schools, local governments entirely whole. They would not see a negative impact from this shift,” Isaacsohn said. “I can’t think of too many better uses of public funds and taxpayer dollars than making sure that our seniors most in need can stay in their homes and age with dignity.”
Both Speaker of the House Jason Stephens (R-Kitts Hill) and House Minority Leader Allison Russo (D-Upper Arlington) said looking at property tax laws is a priority this fall.