Ohio Senate adds $400 million in homeowner relief as property tax bills near passage

COLUMBUS, Ohio -- Ohio homeowners could see a reduction in their tax bills because of a last-minute change to property tax legislation about to be sent to the governor.

State senators added an amendment to House Bill 186 that would expand the owner-occupancy tax credit over the next four years, shifting about $400 million a year in savings to people who live in their homes.

The bill is expected to pass through both chambers Wednesday.

The owner-occupancy credit now gives homeowners a 2.5% discount on qualifying property tax levies. Under the proposal, lawmakers would add another 2.25 percentage points each year, eventually raising the discount to 15.3%.

To fund the change, the amendment would phase out the 10% non-business tax credit for most properties.

That credit now goes to homeow