Ohio Governor Issues Warning Over Eliminating Property Tax
Summary
Ohio Governor Mike DeWine warned that getting rid of property taxes in Ohio could lead to a rise in sales tax by up to 20 percent. A group wants to put a decision on the ballot to remove these taxes, but this could create a large financial gap for the state.Key Facts
- Ohio Governor Mike DeWine spoke out against scrapping property taxes in the state.
- A group named Citizens for Property Tax Reform is pushing for a ballot measure to eliminate property taxes.
- Property taxes in Ohio have increased by 23 percent from 2019 to 2023.
- If property taxes end, Ohio's sales tax could rise significantly; the current rate is 5.75 percent.
- Removing property taxes might leave Ohio with a $20 billion budget gap.
- Property taxes in Ohio bring in around $24 billion each year to local governments.
- Eliminating property taxes raises concerns about funding essential services like police and schools.
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