Under Ohio's Homestead Exemption program, all of the following individuals would qualify for the exemption EXCEPT:
Correct Answer
D) A 66-year-old homeowner with household income of $38,000 who rents out half the home
Ohio's Homestead Exemption requires the property to be the applicant's principal place of residence. While renting out a portion does not automatically disqualify, the exemption applies only to the owner-occupied portion. However, a homeowner who rents out a significant portion may not meet the occupancy requirements, and the income from rent combined with other income may push them over the income threshold. More critically, the property must be used primarily as the owner's home, and renting out half raises qualification issues.
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More Oh Property Tax Assessment Questions
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- → Sarah is purchasing a home in Ohio and asks her agent about property taxes. In Ohio, property taxes are paid:
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In Ohio, the sexennial reappraisal of all real property is conducted by which entity?
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An Ohio township places a 5-year, 3-mill road improvement levy on the ballot. The levy passes. Under House Bill 920, what happens to the effective tax rate of this levy when property values increase at the next triennial update?