Governor Strickland recently enacted a new, expanded Homestead Exemption that will provide additional property tax relief to qualified senior citizens and permanently disabled Ohioans.

Starting July 2, 2007, the $25,000 Homestead Exemption is now available to all Ohio homeowners, regardless of income, who are 65 or older, a surviving spouse or permanently disabled. Previously, the Homestead Exemption was restricted through an income threshold that disqualified most senior citizens.  

To qualify, an Ohio resident must own and occupy a home as their principal place of residence as of January 1, 2007 for real property or January 1, 2008 for manufactured home property.

For those who own more than one home, the principal place of residence is where the individual is registered to vote and where they are considered a resident for income tax purposes.

The application deadline is  October 1, 2007.  Bruner-Cox LLP is in the process of identifying applicable taxpayers and will provide additional information and guidelines as they become available.

For more information, please contact your BC engagement executive or Theresa Mullen, State & Local Tax Leader at 330.497.2000 or 330.376.0100.