Maria is a 72-year-old Ohio homeowner with a household income of $40,000. She applies for the Homestead Exemption and is approved. Under the current Ohio Homestead Exemption program, which of the following BEST describes the benefit she receives?
Correct Answer
C) A reduction of up to $25,000 from the home's assessed value for tax purposes
Ohio's Homestead Exemption (ORC §323.152) provides qualifying homeowners a reduction of up to $25,000 from the assessed (taxable) value of their home. This is the means-tested version available to seniors 65+ and disabled homeowners who meet income requirements.
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