If you already live across the river (or your parents do) yes, it really is that easy.
Check with the FinAid Office, but I think at best, the same thing applies as does for OOS tuition: for OH, you have to prove independent residency for at least a year (or be married to someone working here/have parents working here) before you are eligible for the discount. In fact, it may even be longer/not possible since it is KY, not OH, and who knows what the rules are. Trust me, if simply moving to the other side of the river counted, all the first years would be there in a snap.