Ohio Homestead Exemption (again)

Franklin County has gotten some information on the exemption up on the Auditor’s website. Joe Testa kindly offers the following:

July 2, 2007

Dear Homeowner:

House Bill 119 (effective July 1, 2007) provides for an expanded homestead exemption. It eliminates the income eligibility criteria, thereby making the exemption available to all homeowners who:

  • Are at least 65 years old during 2007; or
  • Are totally and permanently disabled as of January 1, 2007 as certified by a licensed physician or psychologist, or a state or federal agency; or
  • Are the surviving spouse of a person who was receiving the previous Homestead Exemption at the time of death and where the surviving spouse was at least 59 years old on the date of death; and
  • Own and occupy the home as their principal place of residence as of Jan. 1, 2007 for real property, or Jan. 1, 2008 for manufactured homes.
  • The bill also changes the manner in which the homestead tax reduction is calculated. A senior or disabled homeowner will now be entitled to a tax reduction the equivalent of the net amount of taxes due on $25,000 of the market value of their home. For example, an eligible owner of a home valued at $100,000 will now be billed as if the home were valued at $75,000.

    Those individuals who were not previously qualified may now apply for the homestead exemption during an extended application period beginning July 2, 2007 and ending October 1, 2007. The credit will appear on their 2007 real estate tax bill, payable in 2008. Qualified individuals may complete an application online, print out the form, sign, and mail to: Franklin County Auditor’s Office, Homestead Section, 373 S. High St. , 21st Floor, Columbus, OH 43215-6310.

    **For those homeowners who currently receive the homestead exemption, please be advised that this reduction is not in addition to the reduction already received; it is in lieu of the current reduction. The reduction for current recipients will equal the greater of:

  • the reduction granted for tax year 2006; OR
  • the net tax due on $25,000 of the market value of their home.
  • Therefore, current homestead recipients do not need to apply for the expanded program. It will automatically be applied, if applicable.

    Click here for an application.

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