APA Ohio Sends Letter to Senate Finance Committee RE: Sub HB 110
RE: Affordable Housing Tax Valuation Changes
June 8, 2021 | Sub HB 110: ORC 5715.01, 5713.03 Amendment RE: Affordable Housing
On behalf of the APA Ohio Board of Trustees, Legislative Committee Chair Emily Phillis wrote a letter to Ohio Senate Finance Committee members expressing opposition to the amendment to Sub HB 110 (FY 2022-2023 Main Operating Budget Bill) to change the process for valuation of subsidized residential rental property. Requiring federally subsidized residential rental property to be valued for tax purposes based on market rent without regard to the effects of government police powers or other governmental action undermines statewide efforts to encourage development of new affordable housing and has the potential to limit the impact of existing subsidized housing.