From the press release:
State government gives too many property owners a pass on paying a fare share of property taxes, depriving local communities of several hundred million dollars a year in revenue.
Some properties are totally exempt from the property tax, including large nonprofit hospitals and expensive senior housing complexes. Some properties are undervalued, such as land being held for speculation that is wrongly classed as farmland and billboards assessed for the wood, steel and plastic they are made of but not the expensive message space that is rented to advertisers. Owners of all these properties depend on the vital services that property taxes fund, but do not pay or pay less than their share for those services.