Trumball News

State Representative Mike Loychik (R-Bazetta) has announced plans to introduce legislation aimed at addressing the issue of property tax increases in Ohio. The proposed bill, known as the Ohio Property Tax Relief Act, seeks to provide temporary relief to homeowners and farmers by implementing several key measures.

One of the main provisions of the legislation is the expansion of the homestead exemption. This exemption provides a reduction in property taxes for eligible homeowners. Under Loychik's proposal, the homestead exemption would be temporarily expanded, providing additional relief to Ohioans during these times of unprecedented property tax highs.

In addition, the legislation aims to address the issue of school districts' 20-mill floor. Currently, households in districts that have reached this threshold are required to pay more to their school districts as the value of their homes increases. Loychik's bill seeks to limit the increase of the 20-mill floor to the rate of inflation. This would prevent school districts from receiving a windfall of unvoted funds when home values rise.

Another important aspect of the Ohio Property Tax Relief Act is the stabilization of the Current Agricultural Use Value (CAUV) program. The CAUV program provides tax relief to farmers by valuing their land based on its agricultural use rather than its market value. Loychik's legislation aims to ensure the stability of this program, providing farmers with the certainty and support they need.

Loychik expressed his commitment to helping Ohioans and stated, "To further help Ohioans during unprecedented property tax highs, I will be introducing the Ohio Property Tax Relief Act, which will provide relief to homeowners and farmers." He believes that these measures will provide much-needed relief to those who are burdened by rising property taxes.

The Ohio Property Tax Relief Act will now go through the legislative process, receiving a bill number and committee assignment after its formal introduction. Loychik's proposal has gained attention and support from various stakeholders who are eager to see relief for homeowners and farmers in Ohio.

As property taxes continue to rise, it is crucial for legislators to address this issue and provide relief to those affected. Loychik's proposed legislation takes important steps towards alleviating the burden of property tax increases and ensuring that Ohioans have access to the support they need.