Senator Reynolds Delivers Unprecedented Housing Wins in Ohio Biennium Budget
COLUMBUS—State Senator Michele Reynolds (R-Canal¿Winchester) joined her Senate colleagues in approving the state’s new Biennium Operating Budget, which includes historic, game-changing housing policy reforms championed by Reynolds.
“I was very proud to support this biennium’s budget, which makes housing a priority in Ohio," said Senator Reynolds. "I'm very happy about the impact that these investments will make for working class families."
$100¿million allocated to the Residential Development Revolving Loan Program, providing low-interest loans to political subdivisions in rural counties to finance housing infrastructure. This investment addresses the high development costs that have hindered housing expansion in Appalachia and other rural regions.
$25¿million for the Residential Economic Development District Program, supporting planning and development of homes in metro areas experiencing rapid workforce growth near mega-development sites.
Improvements to the Welcome Home Ohio Program, expanding its capacity to rehabilitate residential properties and increase affordable homeownership opportunities. The updated program enhances access for nonprofits and local partners working to revitalize communities and help families build generational wealth.
Preservation of the Ohio Housing Trust Fund, ensuring continued statewide support for housing assistance, emergency shelter, and homelessness prevention programs.
Acting with Meaningful Property Tax Reform
Ohio homeowners hit with troubling property tax increases have been adamant about the General Assembly modernizing the property tax system and improving local tax transparency.
Over the last forty years, revisions have weakened the anti-inflationary guardrails as originally intended. Among them are emergency and replacement levies that skirted those guidelines.
"No retiree who worked hard to pay off their homes should ever have to worry about losing their home because of skyrocketing property taxes," said Senator Reynolds.
The budget will abolish any new emergency or new replacement levies and require improved rules and plain language for future ballot issues to provide more transparency for voters when considering levy requests.
The Senate also recognized the importance of maintaining home rule and local control on property tax matters by enhancing the role of County Budget Commissions.
Budget Commissions consist of the local elected county prosecutor, auditor, and treasurer, and the budget empowers the commission to review and even reduce the financial impact on property owners.