Ohio residents could get money back for paying property taxes

OHIO — Ohio lawmakers have introduced Senate Bill 22, aiming to provide financial relief to homeowners and renters burdened by high housing costs.

The bill proposes a refundable income tax credit or rebate for individuals whose property taxes or rent exceed 5% of their annual income.

Sponsored by Senators Louis W. Blessing, III and Hearcel F. Craig, with co-sponsorship from Senators Nickie J. Antonio, Beth Liston, Kent Smith, and Casey Weinstein, the legislation seeks to amend sections 5747.08 and 5747.98 and introduce section 5747.87 of the Ohio Revised Code.

The goal is to alleviate the financial strain on residents facing disproportionate housing expenses relative to their earnings.

If enacted, eligible taxpayers would receive a credit or rebate to offset the portion of their property taxes or rent that surpasses the 5% income threshold.

This initiative reflects a growing recognition of housing affordability challenges and represents a targeted effort to support those most affected.

Senate Bill 22 is currently under review by the Senate Finance Committee.

As the legislative process unfolds, Ohio residents are encouraged to stay informed and engage with their representatives regarding this proposed measure.