Monday, July 29, 2013

Ohio cancelling property tax “rollbacks

 “After a tradition of some 40 years of subsidizing local taxes, Gov. John Kasich and Republicans in the Ohio House and Senate have applied the brakes,” the Toledo Blade told its readers this morning. We’re passing that on to those who hadn't gotten the news.

  “Local governments and schools heading for the ballot in November to ask voters to support new or replacement levies will have to tell them that the price tags attached will be higher than they were previously told, and the taxpayer will have to pay the entire tab for any new taxes approved.”

  “As part of a broader tax package in the recently finalized the $62 billion, two-year budget. GOP lawmakers have drawn the line on expansion of the so-called property tax rollback for all local taxpayers as well as the homestead exemption benefiting senior citizen and disabled homeowners,” the article continued. “The provisions approved without a single vote by Democratic lawmakers.”

  “Under the rollback program, the state pays the first 10 percent of the tax bill for all property owners plus 2.5 percent for owner-occupied homes. The state will now continue to pay the tab on existing levies and their renewals, but will not subsidize new levies.

  “In addition, an income limit will be restored to the homestead exemption. The state will continue to pay the bill on the first $25,000 in home market value for those already in the program, but all new senior citizen and disabled homeowners entering the program will have to prove they earn less than $30,000 a year.”

  Along with the Blade's story, we also here note Assistant Minority Leader Joe Schiavoni, a Democrat from Canfield, last week introduced a bill “to extend the 10% and 2.5% partial property tax ‘rollback’ exemptions to new and replacement levies approved at the 2013 general election.

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