With a countywide reassessment recently completed, some Beaufort County property owners are suffering from sticker shock after seeing their property values go up 500 percent since the last reassessment in 1998.
Stewart told a group of more than 40 county residents at a downtown public forum that the increasing property values in the county could tax some longtime residents out of their homes.
Property should be assessed at its market value, he said, "but I don't think you have to get there all at one time."
A cap would slow the sudden burden of property value spikes.
Stewart organized the meeting to discuss several local issues, including voter referendums and the potential purchase and preservation of the Port of Port Royal railroad right of way.
But most of the questions and concerns from the residents involved the nuances of the reassessment and the impact of the 20 percent cap on the governor's desk.
"I personally hope he signs it for selfish reasons," said Dottie McDaniel.
Bob Everett, the county's deputy assessor in charge of reassessment, said, good or bad, a reassessment would cause some residents to pay more in taxes to cover the amount capped properties would save.
"It's a redistribution of the tax burden essentially," he said.
But Stewart said an increase in some tax bills was more acceptable than residents being taxed out of their homes.
Stewart said he supports the continued work by local officials to negotiate a potential purchase of the right of way along the Port of Port Royal railroad.
"Let's get it in the house and fight amongst ourselves on how to use it then," he said.