Homestead Exemption rules are changing
It is worth noting that beginning this year, the Homestead Exemption for homeowners turning 65 will be income restricted. This exemption allows homeowners to shield up to $25,000 of the market value of their home from property taxation.
On average, it is a $400 yearly savings. While current homeowners receiving this exemption will continue to do so without income restrictions, new applicants will only receive it if their Ohio adjusted gross income is $30,500 or less for their household. This information can be found on the Trumbull County auditor’s website at www.auditor.co.trumbull.oh.us.
In Howland, not only will many seniors be denied this tax reduction under the Homestead Exemption, but they will also see their property taxes increase by 2.4 mills when the district joins the Trumbull Career and Technical Center.
On top of this, the school board is seeking a 3.9-mill levy on the May ballot. With no relief in sight for many seniors, residents need to be very careful how they vote.
I ”NO” I will.
Joyce E. Liste