State Representative Tracy Richardson testified before the House Ways and Means Committee on March 18 regarding House Bill 261, joined by joint sponsor Brian Lorenz. The bill aims to provide additional property tax relief for seniors in Ohio.
The proposed legislation is intended to address concerns about rising property taxes for older residents living on fixed incomes. It seeks to create an incentive for local governments to establish a Local Homestead Exemption that matches the current state exemption of $25,000 in home value, indexed to inflation. If a local government adopts this option, the state would reimburse half of the local exemption amount. Qualifying seniors could see their property value reduction increase up to $50,000, also adjusted for inflation. Additionally, the bill raises income eligibility for the state homestead exemption to $55,000 of modified Ohio adjusted gross income.
“Addressing our property tax process and reducing the unacceptable burden property taxes place on Ohioans continues to be a priority of mine,” said Richardson. “The ripple of fear and anxiety caused by skyrocketing increases is felt strongly by our vulnerable seniors who live on fixed incomes and have limited earning potential. Seniors deserve better in their golden years! HB 261 brings hope for a brighter tomorrow and demonstrates commitment to some of the most contributing, caring, and vulnerable citizens within our communities.”
Richardson represents Union County and parts of Marion County in Ohio according to the official website. Her background includes volunteering with organizations such as the Union County Drug Free Coalition and local schools according to her official biography. She has also earned a Bronze Star Medal for military service according to her official biography.
Richardson has chaired the Veterans and Military Development Committee according to her official biography, served as a leadership professor for ROTC programs at Capital University and Ohio Wesleyan University after her military career according to her official biography, and prioritized advancing educational opportunities, limiting government intervention, and promoting economic prosperity according to her official biography.
House Bill 261 will continue through further consideration by the House Ways and Means Committee.
