A state senator is calling on Ohio lawmakers to put a cap on property tax increases. The proposal for a yearly limit is in response to the growing housing market in parts of Ohio.
The proposed bill would cap property tax rate increases at three percent.
State Senator Hearcel Craig (D-Columbus) said cities like his are seeing massive growth leading to a spike in home values. He said that's a good thing.
"But at the same time we want to make sure that there's parity, that there's real opportunity for folks to stay in place for our seniors and others that have paid off their homes and can be deleteriously affected by the exorbitant increase in property taxes," Craig said.
Critics have said property tax caps have a negative consequence on local governments, resulting in less revenue for schools, law enforcement, parks and other services.
Supporters said the bill could find ways to cover the gap in local services.
Michael Stinziano, Franklin County Auditor, supports a cap on property tax increases. He said it's important to be aware of the impact a cap could have on local services but he believes the state can find a balance where they can still continue to support local resources and cap property taxes.
"What is going to keep Ohio residents in their home so they're able to contribute to local issues so property taxes play the role they should but aren't pricing them out," Stinziano said.
