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...

A majority of the states equalize funding of local jurisdictions by conducting sales ratio studies to estimate levels of property tax assessment. Because of sales chasing and the failure to adjust sales for time, sales ratios may inaccurately estimate true levels of assessment, resulting in...

Sales ratio studies are currently used by a majority of states to estimate jurisdiction–specific levels of property tax assessment (LOAs) that are used to equalize educational funding. Sales chasing and the failure to adjust sales for time may cause estimates to inaccurately reflect true LOAs,...