LIMA, Ohio (WLIO) — Ohio property owners could see some financial relief in the coming years after new property tax reform legislation was signed into law.
Gov. Mike DeWine signed the bills on Dec. 19. Among the changes, the Owner Occupancy Credit will increase from 2.5% to more than 15% over a four-year period. The new laws also tie tax increases resulting from property reappraisals to the rate of inflation.
In addition, the Ohio General Assembly granted county budget commissions the authority to reduce tax rates if they determine local governments are collecting unnecessary or excessive funds. Lawmakers say the measures are designed to address rising property taxes across the state.
State Sen. Bill Reineke says the legislation was a priority before the end of the year.
“What was something that we wanted to get accomplished before the end of the year. And I'm happy that we did. There are five different bills that we passed, and the combination of those give the tools back to the local auditors and the county officials so they can make better decisions. We feel like we've done some really good things to give back $2 billion over a three year process back to the residents of the state of Ohio,” says Bill Reineke, (R) Ohio State Senator for 26 District.
Property owners could begin seeing savings on their property tax bills in the second half of 2026.
