How it Works
Ohio taxpayers can save up to $50,000 (single) / $100,000 (joint) over 15 years toward the costs associated with purchasing a new home. In addition, the account contributions and interest earned can be deducted from their state income tax liability. Additionally, anyone can contribute to the account.
Why Support The First-Time Homebuyers Savings Act Program?
Low wages and college debt make it hard to save money for a down payment. The Savings Act Program can make it easier for people to buy their first house by allowing individuals to put money in a savings account for the purchase of a new home. (See more in News section below)