Rep. Richardson’s subbill raises homestead exemption eligibility to $55,000 and splits cost with local governments
The House Ways and Means Committee accepted a subbill to House Bill 261 that raises income eligibility for the homestead exemption to $55,000, allows counties to adopt a local homestead exemption, and directs the state to reimburse half the value of any locally adopted exemption (about $12,500 of a $25,000 exemption).
The full story
The House Ways and Means Committee on Monday accepted a subbill to House Bill 261 that would raise income eligibility for Ohio’s homestead exemption to $55,000 and authorize counties to adopt a local homestead exemption with the state reimbursing half the locally adopted value.
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