Property owners in Ohio are bracing for increased property taxes as home values hit historic highs. In Hamilton County, preliminary estimates are that residential property values could increase 33% countywide.
Many older homeowners on fixed incomes are particularly concerned about what this could mean for their property taxes. Lawmakers are taking notice, and now a bipartisan group has drafted a bill to help the most vulnerable Ohioans.
The ‘70 under 70’ plan would freeze property taxes at the current level for people older than 70 whose household income is less than $70,000 annually. Seniors must also own their homes for at least 10 years.
On Cincinnati Edition we discuss House Bill 263 and the concerns homeowners have about rising property values.
Guests:
- Dani Isaacsohn, State Representative, Ohio’s 24th House District
- Janet Duffy, homeowner
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