A last minute amendment slipped into HB 186 last week by State Senator Rob McColley would result in a 10% property tax increase for one, two, and three-door investment property.
Our landlords cannot afford this increase at a time when costs are soaring. This expense will be passed on to renters, who are also suffering from the high cost of living. The result will be less affordable housing for people who need it most.
Among other things, the bill shifts the current 10% property tax rollback for investment property to owner occupied property in an effort to provide property tax relief to homeowners. Property tax relief for homeowners should NOT be balanced on the backs of renters.
We respectfully ask the Governor Mike DeWine veto this legislation, and continue to work with the legislature on meaningful property tax reform that works for everyone.
