State
Ohio
Year
2008
Variations in Receipt of Benefit
No Variation in Receipt of Benefits
Benefit Type
Exemption
Benefit
The benefit is a flat exemption of $25,000 of the market value of an eligible homestead.
How is Benefit Disbursed
Exemption from assessed value
Eligible Property Type
Residential
Characteristics of Eligible Property
Eligible property includes up to 1 acre associated with the homestead. Manufactured homes are also eligible for this exemption.
Eligibility Criteria
Age
Disability
Homeowner
Surviving Spouse
Description of Eligibility Criteria
Eligibility is restricted to homeowners age 65 and older, or disabled, or at least 59 years of age and the surviving spouse of a deceased taxpayer who had previously received the exemption.
Local Option in Adoption of Program
Local government is unable to exercise an option
Local Option Regarding Program Features
No local option regarding program features
State Funding for Local Tax Loss
State reimburses all of the local government tax loss
Description of State Funding for Tax Loss
The state reimburses local governments for the cost of these tax credits.
Record ID
OH101_RR08
Footnotes
Sources
[http://www.tax.ohio.gov/divisions/communications/homestead_exemption_information.stm Accessed on 11/8/10]
View Archived Source