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Economy and Business

Ohio GOP lawmakers may look to wealthy seniors to make up the tax gap
A  hike in property taxes could help fund an income tax cut for small businesses and families

Bill Cohen
In The Region:

Republicans in the Ohio House of Representatives are talking about raising taxes on wealthier homeowners as one way to fund a major income tax cut. Gov. John Kasich wants to extend a 5 percent state sales tax to dozens of new services to pay for the tax cut. But fellow GOP lawmakers are cool to that idea.

One alternative they’re considering is scrapping a property tax break for wealthy seniors. Finance Committee Vice Chair Jeff McClain notes the so-called Homestead Exemption was only recently expanded and says that could change.

Ohio GOP proposes raising property taxes on wealthy citizens

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Cohen on the proposed tax hike

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That’s Republican State Rep. Jeff McClain of north central Ohio. He stresses that excluding wealthy seniors from Ohio’s current property tax break is just one idea being floated. 

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