Levy a tax on certain high-volume landlords
Legislative Analysis Report Levy a tax on certain high-volume landlords
1. Primary Purpose of the Bill
This bill creates a new "housing market impact tax" in Ohio. It targets high-volume landlords who own 50 or more single-family, two-family, or three-family homes in any single county. These landlords must pay a monthly tax of $2,000 for each home they own. The money collected will be split equally between the state's low- and moderate-income housing trust fund and the local government fund to support community needs.
TaxationHousingReal Estate
2. Changes to Existing Law
ORC Sec. 5755.02 Levies a monthly tax of $2,000 per home on any person or combined group owning 50 or more single-, two-, or three-family homes in a county.
ORC Sec. 319.202 Requires pass-through entities (like LLCs) that buy or transfer ownership of these homes to submit contact and parcel information to the county auditor.
ORC Sec. 5747.081 Requires taxpayers to list the parcel numbers and counties of any single-, two-, or three-family homes they own on their annual state income tax returns.
ORC Sec. 5751.051 Requires businesses to list the parcel numbers and counties of any single-, two-, or three-family homes they own on their quarterly commercial activity tax returns.
ORC Sec. 5755.04 Establishes a late payment penalty of up to 5% of the median Ohio home price multiplied by the number of homes owned.
ORC Sec. 5755.99 Makes knowingly filing a false tax report under this chapter a fifth-degree felony, with an additional fine of up to $750,000.
3. Key Information for Citizens
🗳️ What You Need to Know
- Landlords or business groups owning 50 or more residential homes (up to three-family dwellings) in any Ohio county must pay a monthly tax of $2,000 per home.
- Government land banks, port authorities, and 501(c)(3) non-profit organizations are exempt from this tax.
- Pass-through entities (like LLCs) owning these homes must register their contact details and property parcel numbers with the county auditor.
- Taxpayers must report the parcel numbers of all single-, two-, or three-family homes they own on their state income tax and commercial activity tax returns.
- Failing to pay this tax on time results in severe penalties based on Ohio's median home price.
4. Entities Affected
- High-volume landlords owning 50 or more residential rental properties in an Ohio county
- Pass-through entities (such as LLCs and partnerships) that own residential real estate
- County auditors and treasurers
- The Ohio Department of Taxation
- Low- and moderate-income housing programs
5. Regulatory Impact & Enforcement
Agency Authority: The Ohio Department of Taxation and the Tax Commissioner are given the authority to administer the tax, create forms, and write rules. County auditors are authorized to collect ownership statements and notify taxpayers of potential tax liabilities on their property tax bills.
Penalties & Mandates: Mandates a monthly tax of $2,000 per property for landlords owning 50 or more homes in a county. Requires pass-through entities to file ownership statements with county auditors. Establishes a late filing penalty of up to 5% of the median Ohio home price per property. Makes knowingly filing false tax documents a fifth-degree felony, which can carry an additional fine of up to $750,000.
Implementation Timeline: Pass-through entities currently owning these homes must file their ownership statements with the county auditor within 12 months of the bill's effective date. The housing market impact tax will go into effect on the first day of January following the bill's effective date.
6. Estimated Fiscal Impact
State Revenue Impact
Not specified, but will increase state revenue through the collection of the $2,000 monthly tax per property.
Local Government Impact
Will increase funding for local governments, as 50% of the remaining tax revenue is transferred to the Local Government Fund.
Implementation Costs
Not specified
Net Annual Fiscal Effect
Not specified
Policy doesn’t happen in a vacuum. Meet the representatives and senators who introduced this bill and are pushing it through the chamber. Click on any sponsor to see their district, party affiliation, and what other legislation they’ve championed this session.
Primary Sponsors
Louis W. Blessing, III
District
8
Chamber
Senate
Party
Republican
Nickie J. Antonio
District
23
Chamber
Senate
Party
Democrat
Co-Sponsors
Related Topics
To make your research more efficient, this bill has been assigned to one or more Topics. These custom labels group related legislation together, ensuring you can find all of the bills related to a specific topic, regardless of which committee they are in.
|
Education
|
Taxation & Finance
|
Criminal Justice
|
Transportation
|
Environment
|
Business & Commerce
|
Labor & Employment
|
Agriculture
|
Local Government
|
Rent & Housing
|
Most legislative decisions are made in committee rooms, not on the chamber floor. Here, you can track which committees have been assigned to review, amend, or report on this bill. Stay informed on where the bill is currently being debated and which chairpersons hold the power to move it forward.
Status Changes
Legislation moves through a rigorous series of checkpoints. Use this tracker to see exactly which phase the bill is in—whether it’s currently under committee review, up for a floor vote, or awaiting a signature to become law. For more information about bills, please see How a Bill Becomes Law.
| House |
Senate |
Governor |
|
-
|
-
Referred to committee
Jan 29 2025
|
|
|
Documents
Access the primary source. This section hosts the full, unedited text of the legislation alongside every official document produced during its journey. From the initial draft to the final enrolled version, you can review the exact language being proposed for state law.
