By when must the applicant own and occupy the homestead to qualify for exemption?

To qualify for the homestead exemption in Ohio, the applicant must own and occupy the homestead by January 1st of the tax year for which they are applying. This timing is critical because the exemption reduces the amount of property taxes on a primary residence, impacting the tax calculations that take place at the beginning of the year.

By establishing ownership and occupancy requirements as of January 1st, the state ensures that only those who are genuinely residing in their homes can benefit from the exemption, aligning with the goal of property tax relief for homeowners. Therefore, the specific date of January 1st serves as the cut-off point for determining eligibility for that tax year, which is why it is the correct answer.