Prop operty T Tax R Res esearch ch & & Prop oposal November 21 st , 2019
Process
Top O Options ns I Identified Freezes Exemption/Deduction Property Tax Discount Tax Credit Deferrals
Freez eezes es 1 2 Freezing the Freezing the taxable value of the amount of taxes property owed
Freez eezes es Unaffordable Minimal Taxes will be Changes in Still be Property Taxes Unaffordable
Exemption/ n/Deduction Shield some of the market value of a home by decreasing a property’s taxable value
Exemption/ n/Deduction May Bring Taxes Other Taxpayers Down to an May Pick up the Affordable Level Burden
Prop operty T Tax D Discou count Discounted property taxes based on income 30% 100%
Prop operty T Tax D Discou count Other Taxpayers Straightforward May Pick up the Approach Burden
Tax Cr Credit Reduce an individual’s property tax bill by a certain amount Tax credit is determined by income
Tax Cr Credit Not a Large Enough Credits are a Credit to Help the Straightforward Senior Approach
Defer erral Results on a lien Postpone paying on the property property taxes
Defer erral Some Interest Government Rates May be Receives Taxes Excessive Eventually
Our P Prop oposal “Deferral of property taxes for eligible participants with 3% accrual until repayment is completed. Deferrals must be repaid when the home is sold , participant passes away , or the home is no longer used as the primary residence .”
Our P Prop oposal Own and Occupy Property Primary Residence for the Past 10 Years Meet the Requirements of the State of Ohio Homestead Exemption Maximum Income: $32,800
Thank Y k You! Any Questions?
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