As property taxes increase with soaring property values, a state senator from Columbus plans to introduce legislation that would cap property tax increases at 5% per year statewide.
The legislation is similar to a proposal introduced last year. Proponents say it is designed to keep people in their homes by setting an annual cap aimed at helping older residents on fixed incomes and at low-income residents living in gentrifying neighborhoods. We will prevent exorbitant spikes, said state Sen. Hearcel F. Craig, D-Columbus, who will be sponsoring the legislation. He had introduced similar legislation last year that stalled in the Republican-controlled Statehouse.