Ohio REALTORS Testifies on HB 28 to Simplify Property Tax Levies
Anastasia Kotkovskaya, Ohio REALTORS Manager, Advocacy and Research
This week, Ohio REALTORS® testified before the House Ways and Means Committee in support of House Bill (HB) 28, a legislative measure to provide much-needed clarity for Ohioans voting on property tax levies. This bill seeks to simplify levy tax elections by eliminating the ability of taxing authorities to present replacement property taxes to voters.
CEO Scott Williams shared in his testimony:
House Bill (HB) 28 will help avoid confusion surrounding the property tax implications of replacement and renewal levies that appear on the ballot. Many Ohioans view these levies as synonymous when, in fact, they function very differently. A renewal levy extends a levy and raises the same revenue. HB 920 reduction factors apply to renewal levies, which protects property owners from increasing property taxes as their property values grow. On the other hand, HB 920 reduction factors do not apply with replacement levies as the effective millage rate applies to the updated value of the property, often leading to higher property taxes.
The proposal aligns with recommendations from the Joint Property Tax Review and Reform Committee, supporting efforts to improve tax levy transparency across the state. Ohio REALTORS® voiced strong support for HB 28 and continues to urge lawmakers to approve this proposal.
More information about this legislation can be found here: 136 General Assembly | House Bill 28