The Non-Business Credit is a tax relief measure adopted by the state legislature which grants a rollback on the residential class of property and most agriculture properties (O.R.C. 319.302).This reduction was formerly known as the 10% Rollback and is now known as the "Non-Business Credit". However, this will no longer be a full 10% reduction since rollbacks will no longer apply to new levies that are enacted after the August 2013 election.
The Homestead exemption is available to all homeowners 65 and older and all totally and permanently disabled homeowners with a qualifying household income. The application form requires individuals to report the “Modified Adjusted Gross Income” (MAGI). Modified Adjusted Gross Income is Ohio Adjusted Gross Income (line 3 of the Ohio income tax return) plus any business income that has been deducted in computing OAGI on line 11 of Ohio Individual Income Tax Schedule A. This business income must now be included in the income calculation used to determine eligibility for the homestead exemption. County auditors will also be able to verify MAGI using a web-based application for those who file Ohio income tax returns.
With indexing, the tax year 2022 income threshold is $34,600 for late filers. Per the Ohio Department of Taxation Tax Commissioner, the income threshold for tax years 2023 is $36,100. The total threshold income for tax year 2024 will be $38,600.
The Homestead exemption offers all eligible homeowners the opportunity to shield up to $26,200 of the market value of their homestead from property taxation.
Seniors and disabled Ohioans must apply to their local county auditor in order to take advantage of the homestead exemption. Applications for real property must be filed on or before December 31 of the year for which homestead is sought. Applications for manufactured or mobile homes must be filed anytime on or before the first Monday in June of the year preceding the year for which homestead is sought.
For more information and answers to frequently asked questions, visit the Ohio Department of Taxation's Real Property Tax - Homestead Means Testing page.
Applicable to owner-occupied homes pursuant to O.R.C. 323.152(B). The owner-occupancy credit is a reduction in the taxes charged by qualified levies. The reduction is applied against real property taxes and manufactured home taxes on any manufactured or mobile home on which a manufactured home tax is assessed. A “homestead” is a dwelling or a manufactured or mobile home taxed as real property that is owned and occupied as a home. See R.C. 323.151(A)(1).