Property tax reforms remain at the top of the agenda for state lawmakers as they return to the Statehouse following their summer recess. A recent provision was added to House Bill 186 aimed at giving targeted relief to homeowners facing rising property values, hoping to get ahead of a looming 2026 ballot initiative that could eliminate property taxes entirely. Property taxes generate roughly $20 billion for schools and essential local government services, making any changes highly consequential.

The bill focuses on reforming the 20-mill floor for school funding, mainly affecting rural districts, and could reduce statewide taxes by hundreds of millions in 2026. Concerns remain from manufacturers and the business community that a broad loss of property tax revenue could make them a top target for replacement funding, a move that would be disastrous for Ohio’s tax competitiveness. 9/25/2025