CHICAGO — For the first time in more than 40 years, Ohio will stop subsidizing property taxes for new levies, a move that could make voters more reluctant to approve borrowing requests.

The state has traditionally paid 12.5% of local property taxes as part of a long-term rollback program in place since 1971. The program calls for the state to pay the first 10% of a property tax bill as well as 2.5% for owners who live in their homes.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.