COLUMBUS, Ohio (WLIO) – The Ohio General Assembly is considering a measure to manage local government property tax requests as property values rise across the state.
Largely along party lines, the Ohio House voted to eliminate the replacement property tax levy as an option for local governments when seeking voter approval for funding requests. A replacement levy uses updated property values to calculate property taxes, which in most cases results in a higher tax payment, even if the levy millage remains the same.
However, local governments will still have the option of a renewal levy, which collects the same amount of tax revenue that was originally set when the property tax was first passed. Republican lawmakers say this move is a step toward property tax reform in Ohio, while Democratic leaders argue it will make it harder for local governments to secure funding for their programs…