Property Tax Circuit Breakers (Policy Focus Report)

Fair and Cost-Effective Relief for Taxpayers

Author(s): Bowman, John H., Daphne A. Kenyon, Adam Langley, and Bethany Paquin
Publication Date: May 2009

$15.00; 56 pages; Inventory ID PF019; English; Paperback; ISBN 978-1-55844-192-7


Property Tax Circuit Breakers Full Report	4.52 MB

Abstract

Property tax circuit breakers can be used to increase tax equity by reducing the most onerous property tax burdens as measured in relation to income. This is particularly important for households at the lower end of the income distribution, and for households in states with high property taxes. By targeting property relief to those most in need, circuit breakers promote tax equity at minimal cost to state and local budgets, while preserving the basic nature and strengths of this tax as a source of local revenue. Although circuit breakers have great potential for improving property tax fairness, many programs fall short of ideal. Recommendations for the best design for property tax circuit breakers are included in this policy focus report.