Support the CAPS Act Property Tax Relief

I am writing to express my strong support for House Bill
504, the Calculated Adjustments for Property Surges (CAPS) Act, and to
encourage you to vote in favor of this legislation.

Ohio's current property tax system can impose severe
financial hardship on homeowners following a county reappraisal. When assessed
values spike dramatically — as they have in many Ohio counties in recent cycles
— tax bills increase immediately and in full, with no adjustment period for
property owners. HB 504 addresses this directly by authorizing counties to
temporarily exempt a portion of a property's increased assessed value from
taxation following a reappraisal, providing a measured phase-in rather than an
overnight increase.

Several features of this bill are worth highlighting. First,
the relief is targeted: it applies specifically to the reappraisal-driven
increase, not to the base assessed value. Second, it is temporary, meaning the
tax base is preserved over time. Third, it is county-optional, respecting local
control and allowing counties to tailor the approach to their communities'
needs.

I believe HB 504 fills an important gap by addressing the
front-end shock of reappraisals at the county level. I urge you to support HB
504 and advance it out of the Ways & Means Committee.