• Expanded Homestead Exemption for 2008
  • May 14, 2008 | Author: Steven St. L. Cox
  • Law Firm: Roetzel & Andress A Legal Professional Association - Akron Office
  • After the recent enactment of House Bill 119 on June 30, 2007, all Ohio citizens who are either 65 years or older or permanently and totally disabled can achieve property tax savings starting in 2008 through a Homestead Exemption. The exemption reduces the value of a home by $25,000 for purposes of determining how much property tax is owed. This should result, on average, in about $400 of tax savings per year.