Policy · Updated 10 Oct, 06:59 pm IST
US states shift property-tax burden toward commercial owners, paper finds
Why it matters for readers: It explains why rising home prices can make homeowners politically active and lead to policies that favor homeowners over commercial owners.
- Several states have substantially reformed property-tax systems to favor owner-occupied homes and shift costs to commercial property owners.1
- Reforms have shifted funding for local services from residential property taxes to commercial owners, other local taxes, and state revenue like sales and income taxes.1
- A few states, including Florida, Ohio, North Dakota, and Texas, have considered abandoning property taxation for owner-occupied housing or ending property taxes entirely.1
- Rising home values in the post-COVID period made homeowners more politically active and led to pressure for tax changes because property taxes act like wealth taxes.1
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