Senior and Disabled Property Tax Homestead Exemption

State

Ohio

Year

2014

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

Income Ceiling

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. Individuals who turn 65 in 2014 or become disabled after 1 January 2013, will be eligible for the homestead exemption if their qualifying income is below the state-established threshold. The threshold is indexed each year. The income ceiling for 2014 is $30,500. Income ceiling does not apply to those who were eligible and received a credit for tax year 2013.

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_RR14

Footnotes

For individuals who turn 65 in 2014 or become disabled after 1 January 2013, they will be eligible for the homestead exemption if their qualifying income is below the state-established threshold. The threshold is indexed each year. For those who turn 65 in 2014 or become disabled after 1 January 2013, the income threshold is $30,500 for 2014. This was enacted in HB 59 passed in 2013. Effective tax year 2014 and each year after, disabled veterans are entitled to a larger exemption. This was enacted in L.2014 HB 85.

Sources

Ohio Rev. Code § 323.151 ~ § 323.157 (in effect for 2014)
2013 Ohio Laws HB 59; 2014 Ohio Laws HB 85

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