February 11, 2020
The Legislative Committee of the County Auditors’ Association of Ohio (CAAO) voted to support Representative Jason Stephens (R-Kitts Hill) bill (HB 439) to protect the pocketbooks of low-income seniors and disabled veterans by improving the state’s homestead exemption law. The Committee’s vote came during a recent meeting of the CAAO Executive and Legislative Committees.
Generally, the homestead exemption allows low-income senior citizens and disabled veterans to reduce their property tax burden by lowering the market value of their homes for tax purposes. However, Ohio’s Homestead Exemption currently does not adjust for inflation. It has remained the same dollar amount for many years.
The bill requires the amount of each homestead exemption to be adjusted for inflation each year. Under current law, the exemption equals the taxes that would be charged on up to $25,000 of the true value of the home owned by a qualifying individual. This legislation is designed to increase the amount of the Homestead Exemption every year by the same rate of inflation in current law used to calculate the income eligibility of the Homestead Exemption. The adjustment each year will be relatively small, but for those who are most disadvantaged by inflation – those living on a fixed income, the benefit, over time will be significant.
Holmes County Auditor, Jackie McKee noted, “I have seen first-hand the relief the Homestead Exemption provides for senior citizens and disabled veteran homeowners. This bill will provide additional assistance, is easy to administer and would have no impact on school or other local government funding”.
Currently 2019 income eligibility for the homestead exemption is $33,600 state adjusted gross. Call 330-674-1896 for additional homestead exemption information.
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About the Author
Jackie McKee, Holmes County Auditor
Serving Since March 1999 - Jackie graduated from Akron University/Wayne College and has 36 years of accounting experience with 30 years being governmental accounting. She is a working "hands on" auditor; personally involved with all aspects of the office.
Jackie is involved with the County Auditors Association of Ohio and is currently serving on a legislative committee. She is past President of the Northeast Auditors Association.