Lead Sponsors: Senator Louis Blessing, III, and Senator Nickie Antonio
Status: First hearing in Senate Housing (January 18, 2025)
Description: The bill levies a tax on landlords who own 50 or more one-, two-, or three-family homes in a single county. The tax is levied at a rate of $2,000 per house per month (meaning a landlord that owns a minimum of 50 such houses would pay $100,000 per month or $1.2 million per year).
The tax revenue is to be split equally between the Low- and Moderate-Income Housing Trust Fund (administered by the Ohio Housing Finance Agency and the Department of Development) and the Local Government Fund.
The bill also requires pass-through entities that own a taxable home (regardless of whether they own more than 50) to provide the county auditor with contact information for each house.
CCAO Position: No position on the "high-volume" tax (as of February 2025). The last provision is a step towards CCAO's platform position regarding transparency in real estate transactions conducted by LLCs.