10/16/2025

Senate Bill 275

Lead Sponsors: Senator Hearcel Craig and Senator Michele Reynolds

Status: Introduced (September 30, 2025)

Description: The bill creates a seven-year pilot program under which certain homeowners can apply to defer a portion of their property tax bills. The program would be limited to owner-occupied homes valued no greater than $750,000 and individuals with an Ohio adjusted gross income of $250,000 or less, or $600,000 or less for couples filing a joint return.

Participation in the deferral program would last for a single reappraisal/update cycle. Deferral amounts would be limited to 20% of the tax bill increase in the first year and then up to half of that amount in the next two years. Interest would accrue at 3% annually on the deferred taxes. The total amount that could be deferred, plus interest, would be 10% of the home's market value.

Deferrals must be paid when the house is sold or upon the homeowner's death, unless the home is transferred to the deceased owner's surviving spouse.

The bill creates a revolving fund through which the state will reimburse local governments for deferred taxes. Counties would deposit deferred amounts and interest collected back into the revolving fund. 

CCAO Position: CCAO supports the concept of property tax deferrals.