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Ohio bill would give counties the power to cut property taxes

Ohio bill would give counties the power to cut property taxes

Yahoo11-06-2025
COLUMBUS, Ohio (WCMH) – A new Ohio proposal would give counties the authority to lower property taxes if they determine the amount collected is more than needed.
Every county in the state has a budget commission, made up of the county auditor, treasurer and prosecutor, which is tasked with overseeing the taxation process for local governments.
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House Bill 309, introduced by David Thomas (R-Jefferson) in May, would require the panels to review the budgets of taxing authorities annually. If a local government is collecting more money than a public entity — such as a school or law enforcement agency — needs, the legislation gives budget commissions the power to suspend or reduce tax rates.
'If the local government doesn't actually need the full amount of that revenue, or if they're providing the service for less, or can, why should the taxpayers still be charged a much higher tax rate?' Thomas said.
Christopher Galloway, the Lake County auditor, testified in support of the bill at its first hearing. He said county prosecutors' different interpretations of legal precedents have resulted in budget commissions' responsibilities being unclear and varying across counties.
Galloway claimed that while the Lake County budget commission has 'been a rubber stamp' on tax budgets for decades due to its prosecutors' legal opinions, its neighboring county of Geauga rolls back rates when an entity's budget does not require the full amount of taxes. He said he wants all 88 counties to have that ability.
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'HB309 won't be talked about around kitchen tables like a statewide initiative to eliminate property taxes, but it is in fact a REAL and effective means of controlling property taxes in the State of Ohio,' he said in written testimony.
The legislation comes as many Ohioans are expressing frustrations with the costs of property taxes, including a group of citizens who recently started collecting signatures to amend Ohio's constitution and eliminate property taxes altogether.
'Clearly, our taxpayers are telling us across Ohio that the current status quo is not working,' Thomas said.
However, not everyone is in support of the bill, with some claiming it is an attempt to undermine the will of voters. The nonprofit League of Women Voters is among those who have criticized the legislation.
'House Bill 309 is just another example of this gerrymandered state legislature's effort to take power away from local governments and voters,' a spokesperson said in a statement. 'Slowly but surely, corrupt politicians in the Ohio Statehouse are trying to end local control and reduce the rights of Ohio citizens. What Ohioans need are real solutions to real problems, not this.'
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Thomas disagreed with such concerns, stating if the legislation passed, voters would still have the 'full authority and say over the services they want.'
The provision has also been folded into a larger property tax relief overhaul, House Bill 335, which combines multiple bills and would deliver $3.5 billion in property tax relief, according to Thomas.
House Bill 309's second hearing will take place on Wednesday, when opponents of the measure will have the chance to testify. House Bill 335 was introduced last week and awaits its first hearing.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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The aerospace composites market is experiencing strong momentum as OEMs shift towards high-strength, lightweight materials to enhance aircraft performance and reduce emissions. Key players are investing in R&D to overcome cost and processing challenges, driving long-term market value. Key Highlights of the Report: Market Size & Forecast: In-depth analysis of current value and future projections Segment Analysis: Breaks down the market by Fiber Type, Matrix Type, and End-User Industry for focused strategy development. Regional Insights: Comprehensive coverage of North America, Europe, Asia-Pacific, and more Competitive Landscape: Profiles key players, their strategic initiatives, and innovation-driven growth approaches Growth Drivers & Challenges: Analyzes the forces accelerating growth and the restraints hindering large-scale adoption Challenges and Risk Assessment: Evaluates ethical debates, off-target effects, and regulatory complexities Why This Report Matters: This report offers in-depth insights into market trends, competitive dynamics, raw material innovations, and strategic developments in the aerospace composites industry. It enables businesses to capitalize on emerging opportunities while mitigating risks linked to raw material costs and supply chain disruptions. Who You Should Read This Report: Aerospace OEMs & Tier 1 Suppliers Defense Contractors & Aviation Engineers Investors & Financial Analysts R&D and Innovation Teams Material Manufacturers & Distributors B2B Buyers & Procurement Managers For more information or to purchase the report, please contact us at: Browse in-depth TOC on "Global Aerospace Composites Market Size" 202 – Pages126 – Tables37 – Figures Global Aerospace Composites Market Overview Market Driver 1. Rising Demand for Fuel-Efficient and Lightweight Aircraft The global aerospace composites market is experiencing strong growth due to increasing emphasis on reducing fuel consumption and enhancing operational efficiency. Composite materials like carbon fiber reinforced polymers (CFRPs) significantly reduce aircraft weight without compromising strength or performance. Lightweight structures directly translate to improved fuel efficiency, lower carbon emissions, and extended aircraft range. With airlines striving to cut fuel costs and governments pushing for cleaner aviation, the adoption of lightweight composite components is accelerating. This demand is especially pronounced in next-generation aircraft platforms where every kilogram saved equates to measurable fuel and cost savings over time. The trend is driving consistent demand across commercial, military, and general aviation sectors, boosting long-term market opportunities. 2. Increasing Use of Composite Materials in Commercial Aviation The integration of composites in commercial aircraft structures is becoming a global standard in modern aerospace engineering. Aircraft like the Boeing 787 and Airbus A350 incorporate over 50% composite materials in airframe structures. Composites are preferred in applications such as fuselage panels, winglets, interior panels, engine nacelles, and landing gear doors. These materials offer exceptional benefits including high tensile strength, corrosion resistance, and superior fatigue life. As global air travel recovers post-pandemic and order books for new aircraft swell, OEMs are leaning heavily on composite technologies to meet performance and emission standards. The commercial aviation segment remains the largest and fastest-growing application sector for aerospace composites. 3. Growing Investment in Aerospace R&D and Innovation Technological innovation is playing a pivotal role in reshaping the future of aerospace composites. Aerospace OEMs, tier-1 suppliers, and material scientists are heavily investing in R&D to enhance composite properties and production efficiency. Innovations include high-performance thermoplastic composites, nano-enhanced fibers, and bio-composites with improved recyclability and durability. Automation technologies such as robotic layup systems and additive manufacturing are reducing labor costs and improving consistency. Government-backed initiatives in the U.S., Europe, and Asia are funding research programs to develop greener and smarter composite solutions. These developments are not only improving material properties but also reducing cycle times and total lifecycle costs, opening new avenues for market expansion. To Purchase a Comprehensive Report Analysis: Market Restraint 1. High Cost of Composite Materials and Manufacturing Processes Cost remains one of the most significant barriers to widespread adoption of aerospace composites. Composite materials, particularly aerospace-grade carbon fiber, are substantially more expensive than conventional metals like aluminum or titanium. Manufacturing processes such as autoclave curing, vacuum-assisted resin transfer molding (VARTM), and hand layup require high precision, expensive tooling, and specialized labor. 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Environmental regulations across the EU and North America are pushing manufacturers to adopt greener materials and lifecycle strategies. Until scalable, cost-effective recycling solutions are developed, environmental concerns will continue to restrain broader adoption. 3. Supply Chain Disruptions and Raw Material Volatility Global supply chain uncertainties are posing risks to consistent market growth. Aerospace-grade carbon fibers and resin systems are produced by a limited number of qualified suppliers. Geopolitical tensions, export restrictions, and global crises can disrupt raw material availability and increase lead times. Price volatility in key inputs such as epoxy resins and specialty fibers further impacts manufacturing costs. Logistics bottlenecks and shipping delays, especially post-pandemic, have created inconsistencies in supply chain reliability. These challenges affect aircraft production timelines and procurement strategies, limiting the scalability of composite-based solutions. Geographical Dominance: North America dominates the aerospace composites market due to the strong presence of leading aircraft manufacturers like Boeing and Lockheed Martin, along with established composite suppliers. The region benefits from advanced R&D infrastructure, high defense budgets, and steady commercial aircraft production. Europe follows closely, driven by Airbus and a robust aerospace ecosystem across Germany, France, and the UK. Meanwhile, Asia-Pacific, led by China and India, is emerging as a high-growth region due to rising air traffic and expanding domestic aircraft programs. Key Players The "Global Aerospace Composites Market" study report will provide a valuable insight with an emphasis on the global market. The major players in the market are Materion Corporation, Royal Ten Cate, Hexcel Corporation, Owen Corning, Solvay, Teijin, SGL Group, Mitsubishi Rayon Co., Renegade Materials Corporation, Toray Industries. Aerospace Composites Market Segment Analysis Based on the research, Verified Market Research has segmented the global market into Fiber Type, Matrix Type, End-User Industry and Geography. Aerospace Composites Market, by Fiber Type: Glass Fiber Carbon Fiber Ceramic Fiber Others Aerospace Composites Market, by Matrix Type: Polymer Matrix Composite Metal Matrix Composite Ceramic Matrix Composite Aerospace Composites Market, by End-User Industry: Commercial Aircraft Business and General Aviation Aircraft Military Aircraft Civil Helicopter Others Aerospace Composites Market, by Geography North America U.S. Canada Mexico Europe Germany France U.K. Rest of Europe Asia Pacific China Japan India Rest of Asia Pacific ROW Middle East & Africa Latin America Browse Related Reports: Global Aerospace Grade Composite Materials Market Size By Fiber Type (Carbon Fiber, Glass Fiber, Aramid Fiber), By Aircraft Type (Commercial Aircraft, Military Aircraft, Business & General Aviation, Helicopters, Spacecraft), By Application (Interior, Exterior, Structural Components, Engine Components), By Geography, And Forecast Global Aerospace Forgings Market Size By Material (Titanium, Aluminum, Steel), By Application (Rotary-Wing Aircraft, Fixed-Wing Aircraft), By End User (OEM, Aftermarket), By Geography, And Forecast Global Superalloy Fasteners Market Size By Product (Bolts, Nuts, Screws, Studs, Washers, Specialty Fasteners), By Material (Nickel-Based Alloys, Cobalt-Based Alloys, Iron-Based Alloys, Titanium Alloys), By Application (Aerospace, Automotive, Energy And Power Generation, Industrial Equipment, Marine), By End-User Industry (Aerospace And Defense, Oil And Gas, Power Plants, Automotive Manufacturing, Construction, Electronics), By Geography, And Forecast Global Aerospace Clamps Market Size By Type (U-bolt Clamps, Saddle Clamps), By Material (Aluminium Clamps, Steel Clamps), By Application (Airframe, Engine), By End User (OEM, MRO), By Geography, And Forecast Top 5 Composite Material Aluminum Alloy Companies building a sustainable future Visualize Aerospace Composites Market using Verified Market Intelligence -: Verified Market Intelligence is our BI Enabled Platform for narrative storytelling in this market. VMI offers in-depth forecasted trends and accurate Insights on over 20,000+ emerging & niche markets, helping you make critical revenue-impacting decisions for a brilliant future. VMI provides a holistic overview and global competitive landscape with respect to Region, Country, Segment, and Key players of your market. Present your Market Report & findings with an inbuilt presentation feature saving over 70% of your time and resources for Investor, Sales & Marketing, R&D, and Product Development pitches. VMI enables data delivery In Excel and Interactive PDF formats with over 15+ Key Market Indicators for your market. About Us Verified Market Research® stands at the forefront as a global leader in Research and Consulting, offering unparalleled analytical research solutions that empower organizations with the insights needed for critical business decisions. 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This approach allows for actionable insights to be furnished by seasoned analysts, equipping clients with the essential knowledge necessary for critical revenue decisions across these varied and vital industries. Verified Market Research® is also a member of ESOMAR, an organization renowned for setting the benchmark in ethical and professional standards in market research. This affiliation highlights VMR's dedication to conducting research with integrity and reliability, ensuring that the insights offered are not only valuable but also ethically sourced and respected worldwide. Follow Us On: LinkedIn | Twitter | Threads | Instagram | Facebook Contact UsMr. Edwyne FernandesVerified Market Research®US: +1 (650)-781-4080US Toll Free: +1 (800)-782-1768Email: sales@ Logo: View original content: SOURCE Verified Market Research Sign in to access your portfolio

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