Prior to adjourning for the summer, the Ohio General Assembly passed a series of bills. One of these was HB 479 which was originally a radiology bill but was transformed into a “budget cleanup” bill that included several amendments relating to the property tax reform legislation passed in November 2025. The property tax provisions of HB 479 fall into 3 main categories:

1. Establishment of a $350 million Property Tax Relief Fund which will be used to reimburse schools and other local governments for a one-year property tax credit which will double the current homestead exemption. The $350 million appropriation will be transferred from the FY26 end-of-year budget surplus.
2. Clarifying the calculation of the HB 186 20 mill floor inflationary cap calculation with regard to the homestead exemption. HB 479 specifies that the homestead exemption amount is computed before the calculation of the HB 186 inflationary cap credit, thereby avoiding an unintended reduction in the homestead exemption amount.
3. The final main property tax feature of HB 479 is to modify the timing of the imposition of the HB 335 inflationary cap on inside millage so that it is computed after the HB 186 20 mill floor inflationary cap. This ensures that school districts at the 20 mill floor will not be pushed below the floor as a result of the HB 335 inside millage cap.

Download the full report here: Overview of HB 479 Prop Tax Provisions.