Like too many
property tax relief programs, the tax savings from the Florida "Save
Our Homes" program, which may be expanded by a vote next Tuesday, have
gone overwhelmingly to the richest state residents
according to a new report to be published in the
Journal of Real Estate Research. The result has been a tax bonanza for owners of multi-million dollar homes. Similarly, a
new study by the
Georgia Budget and Policy Institute
argues that property tax cut proposals by Georgia political leaders
would come at the expense of working families who would likely see
higher sales taxes even as richer residents would see tax cuts.