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The Equity Effects of Property Tax Caps: Evidence from Florida

Author

Listed:
  • Beal Mary
  • Stranahan Harriet

    (Department of Economics & Geography, University of North Florida, Jacksonville, FL, USA)

  • Borg Mary O.

    (Department of Political Science & Public Administration, University of North Florida, Jacksonville, FL, USA)

Abstract

Over the last decade Florida property owners have saved billions of dollars in taxes due to a 1995 assessment cap initiative which reduced homeowner’s tax burdens. Florida is not alone in passing assessment caps, 20 other states have passed similar property tax reductions. Proponents of Florida’s initiative said the measure would protect the elderly, many of whom live on fixed incomes in retirement, from property tax inflation. This research examines the vertical and horizontal equity effects of assessment caps. Using data from a large MSA in Florida, the results provide new evidence on which groups of homeowners are more likely to benefit from these types of initiatives.

Suggested Citation

  • Beal Mary & Stranahan Harriet & Borg Mary O., 2017. "The Equity Effects of Property Tax Caps: Evidence from Florida," Academic Journal of Interdisciplinary Studies, Sciendo, vol. 6(s2), pages 141-151, July.
    • Handle: RePEc:vrs:ajinst:v:6:y:2017:i:s2:p:141-151:n:17
    DOI: 10.2478/ajis-2018-0039
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