Amanda Iacone, writing for the Fort Wayne Journal Gazette, has an article (featuring Everybody’s Favorite Economist(tm), Larry Deboer) on the anticipated expiration of state funded homestead credits. This will cause pretty much everyone’s property taxes to go up unless they are already up against the tax cap.
The homestead credits, if memory serves, were funded by selling slot machine licenses to the horse tracks, (and got us through the 2008 elections with lower property taxes.) According to the Journal Gazette article, rural property owners benefited most from the homestead credits (as compared with tax caps) because those areas typically do not pay as many taxes as more urban areas – and therefore don’t hit the caps.