47 are generally consistent with the principles associated with good property tax systems. The reduction in the state rate is simple, uniform tax relief. With regard to uniformity the picture is murkier. While it may be constitutional the value limitation represents a departure from strict uniformity and will result in some tax shifting. Improved assessment practices, however, will moderate the likelihood of significant spikes.
Modest solutions are often appropriate for minor problems.
47 represents that kind of balanced, pragmatic approach. Many of our recent publications are available as .pdf files. You will need Adobe Acrobat to read them. If you do not already have it you can download Adobe Acrobat for free .