The CantonRep
Real Estate
- Page 3
New legislation for first time homebuyers proposed
By Joey Marino
President Stark County Association of Realtors

One of the core pledges of the members of the Stark County Association of Realtors and our state and national counterparts (Ohio Realtors and The National Association of Realtors) is to champion legislation that fights for the rights of property owners. We are one of the largest organizations in the country to do so. The leadership team from the Stark County Association of Realtors recently returned from the Ohio Realtors Spring Legislative Conference where, along with volunteers throughout the state, helped to launch a bill in the Ohio Senate that would give first time home buyers more ability to save money for their first home.

The bill would create a First Time Home Buyers Savings Account that would allow Ohio residents to save money for a down payment plus closing costs and their contributions and accrued interest would be tax deductible. Ohioans taking advantage of this if it becomes reality would just need to open this type of account at any financial institution and could deposit up to $5,000 annually for a single tax filer or $10,000 annually for joint tax filers.

Thanks to the volunteers that met with our local state representatives and senators, Ohio Senate Bill 139 was successfully presented during a press conference at the Ohio Statehouse. State Senators Theresa Gavarone, (R-Bowling Green), and Bob Peterson, (R-Washington Court House), sponsored the bill and the reception from our legislative body was favorable.

While it’s too early to say whether this will become a reality, there’s a positive outlook from all involved at the Ohio Realtors. The rising costs of secondary education and the enormous burden of student loans on today’s buyers have given rise to a demand for this...