Ohio’s business community is facing mounting challenges, and skyrocketing property taxes are at the top of the list. At the Ohio Chamber of Commerce, we represent more than 8,000 businesses of every size, industry and region across our state. When we surveyed our members last year, one message came through loud and clear: The most pressing tax concern for Ohio’s employers is property taxes.

Since receiving those results, the Ohio Chamber has been working with other business associations, including Ohio Realtors and the County Auditors’ Association of Ohio, to study the property tax system and tirelessly advocate for reforms.

That’s why we were encouraged to see the General Assembly take meaningful action in the state operating budget to curb the unsustainable growth in property taxes.

Their commonsense provisions would have brought much-needed predictability and relief for employers and homeowners alike, particularly in a time of rising valuations and local levy growth. Unfortunately, that relief was vetoed.

Now, the Ohio Legislature has an opportunity — and a responsibility — to override those vetoes.

The property tax burden in Ohio has reached a tipping point. According to the Ohio Chamber’s Ohio Tax Benchmarking Analysis, property taxes in Ohio are 72 percent higher than the peer locations analyzed nationwide. Business owners across the state are being squeezed by double-digit increases in property valuations, compounded by an ever-growing stack of local levies. These rising costs erode competitiveness, discourage investment and ultimately drive up costs for consumers.

Increasing home values paired with lack of ballot transparency have contributed to the overwhelming burden of increased property tax. In 2024, the average sale price of a home in Ohio increased by 7.3 percent compared to the previous year, reaching $291,062, according to Ohio Realtors.

And in 2024, inflation was 2.9 percent while (three-year) reappraisals increased home values by more than 30 percent in many areas.

This issue is time sensitive. Swift legislative action to override these vetoes before the end of July is necessary to ensure these reforms are in place to decrease tax bills for January 2026. Additionally, 23 counties are undergoing reappraisals or valuation updates this year, putting taxpayers at further risk of unvoted increases in January. If the legislature doesn’t act soon, there is also a much greater chance that a constitutional amendment eliminating the property tax system as a whole could be on our ballots next fall. These budget provisions can help in the short-term and hold off the need for such rash measures.

The legislative language that was vetoed is not radical reform. It simply aimed to slow the rate of increase in property taxes by adjusting the impact of voted levies during periods of rapid valuation growth. It preserved local control, honored voter intent, and ensured that local governments and schools would continue to receive essential funding. What it did not do was allow unchecked, automatic tax increases with no accountability or recourse for taxpayers.

Make no mistake: This is not just a homeowner issue. For Ohio’s businesses — especially small businesses with thin margins — property tax spikes can make the difference between expanding and scaling back, hiring and laying off, staying in Ohio or looking elsewhere.

We understand that schools and local governments need stable funding. But stability must be balanced with sustainability. A tax system that ratchets up faster than the economy can sustain will ultimately undermine the very communities it’s meant to support.

The Ohio General Assembly listened to taxpayers and acted.

Now, they must finish the job by overriding these vetoes and putting guardrails around a property tax system that’s growing increasingly out of control.

On behalf of our 8,000 member businesses, we urge the Legislature to stand firm and deliver the relief that Ohioans need.

(Stivers is president and CEO of the Ohio Chamber of Commerce)