COLUMBUS, Ohio — A new memo from Ohio bond lawyers warns that eliminating property taxes could trigger years of lawsuits if local governments can’t repay loans secured by those taxes.
Those loans are often issued as municipal bonds, commonly called “munis.” Cities, counties and school districts sell these bonds to investors to raise money for large projects such as airports, roads, fire stations and schools.
To get those loans, they often promise lenders the money will be repaid using property tax revenue—similar to how someone uses their job income to qualify for a mortgage or car loan.
cleveland.com
By Anna Staver
Published: Mar. 10, 2026, 9:08 a.m.