Technical Updates Proposed to Ohio’s Single-Family Tax Credit Program
By Anastasia Kotkovskaya, Director of Advocacy & Research
This week, Ohio REALTORS® provided proponent testimony in support of House Bill (HB) 765, which would make practical updates to Ohio’s Single-Family Tax Credit Program.
Ohio continues to face a shortage of available homes, with rising construction costs, higher interest rates, and increasing home prices making it harder for many families, especially first-time buyers, to enter the market.
That is why Ohio REALTORS® supported the creation of the Single-Family Tax Credit Program in 2023 to help spur the construction of new single-family homes and make homeownership more attainable for working Ohioans. But since then, the program has unfortunately not produced the level of activity many hoped for.
HB 765 would address some of the issues that have made the program difficult to use. Instead of waiting for an entire project to be completed, credits could be issued as individual homes are finished and sold. The bill would also improve how credits are claimed and transferred while keeping the focus on affordability and owner-occupied housing.
These changes would make the program more workable for builders and investors while staying true to its original purpose: helping close the gap between what it costs to build a home and what Ohioans can afford.
HB 765 would help make the Single-Family Tax Credit Program work as intended, giving Ohio another tool to support attainable housing and homeownership.
You can find more information about HB 765 below:
HB 765 | Ohio General Assembly | Ohio House of Representatives
Anastasia Kotkovskaya
Director, Advocacy & Research
Supports Ohio REALTORS®’ legislative, regulatory, and political initiatives at the Ohio Statehouse, conducting public policy research, collaborating with stakeholders, and developing advocacy resources to keep members informed of advocacy efforts. She provides regular legislative updates through Capitol Connections and The Latest Political Buzz, and hosts the Policy Talks podcast to provide insights on key political developments. She also serves as the staff liaison for the Political Advocacy Fund Committee.
Learn more about Anastasia & her role.
