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The Homestead Exemption in Ohio

For Cincinnati residents with lower incomes, foreclosure or selling their home may appear as the only option for dealing with overwhelming property tax payments. Fortunately, the state of Ohio allows low-income, senior citizens and those with permanent disabilities to avoid some of these payments through the homestead exemption.

In Ohio, residents may qualify for an exemption up to $25,000 off of the market values of their homes. The exemption comes in the form of a property tax credit such that a home worth $200,000 would be billed as a $175,000 home. The homestead exemption only applies to the owner’s home and up to one acre of property. If you need assistance with your financial situation, the lawyers at Ryan J. Ruehle Attorney at Law, LLC may be able to help you seek a homestead exemption.

Benefits of the Homestead Exemption

The homestead exemption offers Cincinnati residents several major benefits, including:

  • May prevent foreclosure of your home
  • Exemption from part of the original property tax bill
  • Allows tax-exempt voters to vote on property tax issues

If you are facing financial issues due to low-income paired with a large property tax bill, you may wish to consult a lawyer about enacting the use of the homestead exemption.

Contact a Bankruptcy Lawyer in Cincinnati

Property taxes can create stressful financial situations for Cincinnati residents. The lawyers at Ryan J. Ruehle Attorney at Law, LLC understand that the future may feel overwhelming for you in the face of paying steep property taxes. With the help of our lawyers, you may be able to use the homestead exemption to help cover some of the cost. Call (513) 621-0999 today to speak with an experienced lawyer about your financial and legal options.

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