Do Caps on Increases in Assessed Values Create a Lock-in Effect? Evidence From Florida’s Amendment One

Keith Ihlanfeldt

National Tax Journal, 2011, vol. 64, issue 1, 8-25

Abstract: The property tax savings provided by assessment caps are generally lost when homeowners move. There is, therefore, a concern that homeowners get “locked-in” to their current home. Using data from Florida, the results presented in this paper show that the lock-in effect is nontrivial in magnitude, especially for homeowners in single-family homes (in comparison to condominiums) and those located in jurisdictions with relatively low property tax rates.

Date: 2011
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