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Today’s #GOPCThread is focused on an issue that is affecting many cities neighborhoods throughout #Ohio; Property values that are stagnant or losing value. But not all; a handful are experiencing rapid increases in property value https://bit.ly/33o5R9h
Residents and advocates are worried that long time homeowners in these neighborhoods are at-risk of displacement due to increased property taxes, as a result of overall neighborhood market strengthening #GOPCThread
Property tax relief was a universal concern in a recent study of @CityofCleveland ‘s tax abatement program. Council members, residents, private sector folks have all said longtime homeowners in hot neighborhoods need help. #GOPCThread https://bit.ly/3ibXQds
Currently, #Ohio has the #HomesteadExemption, a provision that assists low income seniors and disabled Ohioans. While helpful, it doesn’t help all Ohioans struggling under the weight of increased property taxes #GOPCThread https://bit.ly/3hbT7HA
In #Ohio, state law dictates how local governments administer taxes. A property tax relief program—similar to what other cities and states have—will require state authorization of a local or statewide program #GOPCThread
Bills introduced by @SenSWilliams (SB 273) and @HearcelCraig (SB335) offer possible solutions by capping the amount property taxes can increase year-to-year #GOPCThread
SB273 - https://bit.ly/2ZfOq9C
SB335 - https://bit.ly/3m2xfly
SB273 - https://bit.ly/2ZfOq9C
SB335 - https://bit.ly/3m2xfly
. @GreaterOhio is working with #AffordableHousing advocates from around the state who are committed to finding solutions that will keep Ohioans in their homes #GOPCThread
As the #pandemic drags on, 43% of counties nationally expect revenue shortfalls, and that the expected drop in revenue is because of anticipated nonpayment or deferral of taxes. This is a people problem, not a property-problem. #GOPCThread https://bit.ly/3bFHEi4
A targeted relief program that focuses on the individual, not the property, is what is most needed to help address this program. #GOPCThread
Any property tax relief program will have to balance relief to homeowners while maintaining sufficient revenues to schools and other taxing districts that receive property tax revenues or levies (like park systems, hospital systems, human service boards) #GOPCThread
If you are concerned about rising property taxes in Ohio’s hot markets, you can tell us your story and sign up to learn more about statewide efforts to find an appropriate solution #GOPCThread https://forms.gle/i2uaQ14EJiWJc8nQ6
