Homeowners near Masters golf course in Augusta get tax breaks

Seven homeowners near the Masters golf course will get the tax breaks.

That's thanks to a state law known as a traditional use covenant.

It allows exemptions for homeowners whose taxes have increased due to an unusual market influence. Such was the case when the Masters bought up land around its property and turned it into parking lots this year.

The Richmond County board of tax assessors voted to bring taxes around the Masters golf course back in line with other residential property nearby.

One homeowner says last year he paid $2000 in taxes for a third of an acre while the Masters paid only about $470 for the same amount of land. The homeowner's taxes this year will drop to $600.