COLUMBUS, Ohio — A sweeping property tax bill passed by the Ohio Senate and House comes just months after 11 Investigates first revealed how out-of-state and foreign investors are rapidly reshaping Toledo’s housing market - and it takes direct aim at one of the core concerns we uncovered: the shrinking share of homes owned by people who actually live in them.

For more than a year, 11 Investigates has documented a dramatic rise in investor-owned housing across Lucas County. Our reporting was corroborated by a recent study done by the Federal Reserve Bank of Cleveland, which found that Toledo has higher investor ownership of single-family houses than other areas of the country. According to the Federal Reserve, in some areas of Toledo, 20-30% of homes are owned by investors, most of the

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