Ohio Homebuyer Plus Savings Account

About This Program

Ohio Treasurer's enhanced savings account that provides a state income tax deduction of up to $5,000/year ($10,000 married) on contributions toward a home purchase. Lifetime max deduction of $25,000 per account. Family members can also contribute and deduct.

At 4% Ohio tax rate, $5,000 deduction saves ~$200/year in state taxes

Key Details

• State tax deduction up to $5,000/year per person
• $10,000/year for married couples; $25,000 lifetime cap
• Family members can contribute and deduct too
• Interest earned is also tax-deductible
• Open at any participating Ohio bank or credit union

How to Apply

Deadline: Ongoing — open account at participating bank or credit union