House Bill 645 is offering a modest tax credit for some home owners and renters.
Ohio House Bill 645 is a proposed piece of legislation aimed at providing financial relief to homeowners and renters who find themselves struggling with high housing costs. Introduced by Representatives Dani Isaacsohn and Thomas Hall, the bill specifically targets those whose property taxes or rent exceed 5% of their income. Under this bill, affected individuals would be eligible for a refundable income tax credit or rebate, designed to alleviate some of the financial strain caused by these excessive housing expenses.
The bill’s primary objective is to ensure that Ohioans are not disproportionately burdened by their housing costs, particularly in a climate where property taxes and rents continue to rise. By amending sections 5747.08 and 5747.98 of the Ohio Revised Code and enacting a new section, 5747.86, the bill aims to provide direct economic relief to those who need it most.
House Bill 645 is currently in the House Committee, where it is being reviewed and discussed. If passed, this bill could represent a significant step toward making housing more affordable for thousands of Ohio residents, offering a crucial financial lifeline to those whose housing costs are consuming an unsustainable portion of their income.
As housing costs continue to be a major concern across the state, House Bill 645 stands out as an important measure in the ongoing efforts to support Ohioans in managing their housing expenses. Residents interested in following the progress of this legislation or learning more about its specific provisions can do so through the Ohio Legislature’s official website, where detailed updates and documentation are available.
