To amend sections 319.202, 319.302, 323.155, 323.158, 4503.0610, and 5323.02 and to enact sections 323.21 and 323.22 of the Revised Code to allow eligible homeowners to defer the payment of a portion of their property taxes.
HB483 creates a new property tax deferral program for eligible Ohio homeowners. The bill allows an owner-occupant of a qualifying homestead, including certain manufactured and mobile homes and homes in housing cooperatives, to apply to defer a portion of property taxes if household income is below a specified threshold and the property value does not exceed $750,000. The deferral generally applies for three tax years at a time, with the deferred amount based on the increase in current taxes above a set benchmark, and interest accrues at 3% annually. Deferred taxes are repaid when the homeowner dies, sells, or otherwise conveys the property, subject to a surviving spouse exception, and the bill also allows voluntary prepayment.
The bill would amend multiple sections of the Revised Code to integrate tax deferral into Ohio’s property tax administration, including tax bills, conveyance statements, manufactured home taxation, and residential rental property filing requirements. It creates two new sections: one establishing eligibility, application, deferral, repayment, and lien rules for deferred property taxes, and another creating a state property tax deferral revolving fund to reimburse counties for deferred amounts and keep local taxing districts whole. It also updates transfer and disclosure procedures so county auditors and grantees are informed when property is subject to tax reductions, agricultural use recoupment, or deferred taxes, and it extends the new deferral framework to manufactured and mobile homes beginning in tax year 2027.
Because the bill was only introduced and had no recorded votes or committee testimony in the provided materials, there is no formal legislative sentiment reflected in the record. On its face, the proposal appears aimed at providing property tax relief and cash-flow assistance to qualifying homeowners while preserving county and school-district revenue through state backfill payments. The structure suggests a generally supportive policy intent toward homeowners facing rising tax bills, but the absence of hearings or votes means public and legislative reaction cannot yet be measured from the available context.
The main policy questions likely concern eligibility limits, fiscal exposure, and administration. The bill targets homeowners with income below a threshold and homes valued at up to $750,000, which may prompt debate over whether the program is too broad or too narrow. Another likely point of contention is the state backstop fund: counties are reimbursed from a revolving fund, with the General Revenue Fund required to cover shortfalls, raising concerns about state budget impact. There may also be discussion about the 3% interest rate, the lien and repayment rules at death or sale, and whether the program could complicate property transfers or local tax administration.