In property tax systems, a clawback limits the tax decrease a property receives when its assessed value falls. Clawbacks complement capping policies (which limit tax increases)—together they smooth out the impact of assessment changes over time. Without clawbacks, properties with declining values would immediately pay less while capped properties continue overpaying, creating persistent inequities. Clawbacks phase in tax decreases gradually, maintaining fairness between rising and falling properties. The term 'clawback' also appears in social policy, referring to reductions in benefits as recipients' income increases, and in executive compensation, referring to provisions requiring repayment of bonuses under certain circumstances.