The Equity Effects of Property Tax Caps: Evidence from Florida

Mary Beal, Stranahan Harriet and Borg Mary O.
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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

Academic Journal of Interdisciplinary Studies, 2017, vol. 6, issue s2, 141-151

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.

Keywords: Property Tax Caps; Horizontal & Vertical Inequity; Economic Incidence; Heckman Selection; Suits Index (search for similar items in EconPapers)
Date: 2017
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Journal Article: The Equity Effects of Property Tax Caps: Evidence from Florida (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:ajinst:v:6:y:2017:i:s2:p:141-151:n:17

DOI: 10.2478/ajis-2018-0039

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