East Cleveland News

State Representative Daniel P. Troy (D-Willowick) has been appointed to the Joint Committee on Property Tax Review and Reform by House Speaker Jason Stephens (R-Kitts Hill), focusing on property tax relief and system modernization. The committee, composed of members from both the Ohio House of Representatives and the Ohio Senate, aims to submit property tax law reform recommendations to the General Assembly by December 31, 2024.

"I'm honored to be recognized for my commitment to better understanding and reform of our property tax system, and I’m excited to work with my fellow committee members on proposing property tax relief while ensuring that essential government services are still provided," said State Representative Troy in a press release from the House of Representatives. "This is really a two-pronged approach to getting much-needed property tax relief. First, we all need to engage in a comprehensive educational process to better understand the complexities of Ohio’s property tax system and laws. Second, we must then decide which components of this system need to be modernized and reformed to make the system not only more understandable to the citizens but also to make it fairer and less burdensome, especially to those property owners on limited incomes."

The Joint Committee on Property Tax Review and Reform was established by House Bill 33 and is composed of five Senators and five Representatives, with a majority-party co-chair from both the House and Senate, according to the Ohio Office of Research and Drafting. The committee's responsibilities include reviewing Ohio's property tax laws, including levies, exemptions, and local subdivision budgets, and holding hearings on relevant property taxation legislation. It mandates the committee to provide property tax law reform recommendations to the General Assembly by December 31, 2024, after which the committee will be dissolved.

Ohio's overall tax system is ranked 37th on the 2023 State Business Tax Climate Index. The State Business Tax Climate Index serves as a resource for business leaders, government policymakers, and taxpayers to evaluate the quality of their state's tax systems. Ohio utilizes a graduated individual income tax system with rates ranging from 2.765 percent to 3.990 percent. Some local jurisdictions also collect income taxes. Corporate income tax is not in place, but there is a gross receipts tax. The state's sales tax rate is 5.75 percent, with a maximum local rate of 2.25 percent, resulting in an average combined state and local sales tax rate of 7.24 percent.

State Representative Troy's appointment to the Joint Committee on Property Tax Review and Reform highlights his dedication to improving the property tax system in Ohio. With the committee's efforts, Ohioans can look forward to potential property tax relief and a more modern and fair system.