Page 14 - SOSMagazineOctDec13

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14
Serving Our Seniors is someone to call when you need help.
419-624-1856 800-564-1856
1019 W. Perkins Avenue
Sandusky, Ohio
419.626.4592
On June 30, 2013, Governor
John Kasich signed House
Bill 59, which contains two
provisions affecting your real
estate taxes. These provisions
do affect senior citizens,
however, most effects will be
felt after January 1, 2014.
Homestead Tax Exemption:
The new rule states that anyone who turns 65 after
December 31, 2013 or is declared permanently
disabled after that date is subject to an income limit in
order to receive the tax break on a home they own. For
2014 the income level has been set at $30,400/year.
This is based on the applicant and spouse income. The
State will review economic factors each year and adjust
this income level.
Those currently receiving the Homestead Exemption
will continue to receive the beneft even if they exceed
the income limits.
Remember, the new rules apply to
new applicants.
If a current Homestead recipient sells
their home and moves to another location anywhere
in the State of Ohio, they can continue to receive the
exemption on the new location if they are the deeded
owner. The rule for senior citizens owning a mobile
home will not take effect until 2015. Mobile home
owners can be grandfathered from the new rules if
they received the Homestead Exemption in 2014.
The 2.5% & 10% rollback discount on real estate
taxes:
Today, all current residential or agricultural
residents receive a 10% rollback discount and a 2.5%
rollback discount on their real estate taxes. The State
of Ohio reimburses the local governments (i.e., county
government) for these two discounts. House Bill 59
has not eliminated these two discounts. However,
House Bill 59
does
eliminate the discounts for any
new tax levies
passed starting with November 2013
elections. The most important thing to remember is
you only lose the discounts and pay 100% of the levy
for new or additional monies as of November 2013.
Renewal levies passed on or after November, 2013
elections are not considered new money and will
continue to include these discounts for taxpayers.
The
Effect of
House Bill 59
on
Senior Citizens & Taxes
Rick Jeffrey, Erie County Auditor
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