Property Ownership
In Ohio, which of the following is TRUE about a 'homestead exemption' for qualifying seniors?
AIt exempts the entire home from all taxes
BIt reduces the taxable value of the primary residence for eligible seniors aged 65+ and disabled persons✓ Correct
CIt applies only to homes under $150,000 in value
DIt must be renewed annually and requires proof of income below $30,000
Explanation
Ohio's homestead exemption reduces the taxable assessed value of a qualifying senior's (65+) or disabled person's primary residence, lowering their annual property tax bill.
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