Montgomery County's Budget Commission voted Wednesday to reduce property taxes by $12.5 million, an action the county auditor's office described as the panel's first move to lower millage rates for taxpayer relief.
The decision was driven by Ohio House Bill 335, a newly enacted state measure meant to keep property owners from facing outsized tax bills after a countywide reappraisal. Auditor Karl Keith called the vote a landmark for county taxpayers and said the rate adjustments are intended to stop higher valuations from producing comparable increases in what owners owe. According to the announcement, the change involves inside millage rates.
Under the plan, residential owners are projected to see savings averaging close to $20 for each $100,000 of home value. The announcement did not specify how commercial or other property classes are affected, when the savings would appear on bills, or how the reduction interacts with individual taxing districts.