A Total Tax Reform Plan To Eliminate Property Taxes On Buildings And Personal Property

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A Total Tax Reform Plan To Eliminate Property Taxes On Buildings And Personal Property

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Author :
language : en
Publisher:
Release Date : 196?

A Total Tax Reform Plan To Eliminate Property Taxes On Buildings And Personal Property written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 196? with Single tax categories.

Taxing Immovable Property Revenue Potential And Implementation Challenges

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Author : Mr.John Norregaard
language : en
Publisher: International Monetary Fund
Release Date : 2013-05-29

Taxing Immovable Property Revenue Potential And Implementation Challenges written by Mr.John Norregaard and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-05-29 with Business & Economics categories.

The tax on immovable property has been characterized as probably the most unpopular among tax instruments, in part because it is salient and hard to avoid. But economists continue to emphasize the virtues of the property tax owing to its relatively low efficieny costs, benign impact on growth, and high score on fairness. It is, therefore, generally considered to be underutilized in most countries. This paper takes stock of the arguments for using real property taxation, and presents an updated data-set for high-and middle income countries to illustrate its use. It also reflects the renewed and widespread interest in property tax reform globally, and discusses the many policy and administrative issues that must be carefully considered as prerequisites for successful property tax reform.

Rethinking Property Tax Incentives For Business

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Author : Daphne A. Kenyon
language : en
Publisher:
Release Date : 2012

Rethinking Property Tax Incentives For Business written by Daphne A. Kenyon and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with Electronic books categories.

The use of property tax incentives for business by local governments throughout the United States has escalated over the last 50 years. While there is little evidence that these tax incentives are an effective instrument to promote economic development, they cost state and local governments $5 to $10 billion each year in forgone revenue. Three major obstacles can impede the success of property tax incentives as an economic development tool. First, incentives are unlikely to have a significant impact on a firm's profitability since property taxes are a small part of the total costs for most businesses--averaging much less than 1 percent of total costs for the U.S. manufacturing sector. Second, tax breaks are sometimes given to businesses that would have chosen the same location even without the incentives. When this happens, property tax incentives merely deplete the tax base without promoting economic development. Third, widespread use of incentives within a metropolitan area reduces their effectiveness, because when firms can obtain similar tax breaks in most jurisdictions, incentives are less likely to affect business location decisions. This report reviews five types of property tax incentives and examines their characteristics, costs, and effectiveness: property tax abatement programs; tax increment finance; enterprise zones; firm-specific property tax incentives; and property tax exemptions in connection with issuance of industrial development bonds. Alternatives to tax incentives should be considered by policy makers, such as customized job training, labor market intermediaries, and business support services. State and local governments also can pursue a policy of broad-based taxes with low tax rates or adopt split-rate property taxation with lower taxes on buildings than land.State policy makers are in a good position to increase the effectiveness of property tax incentives since they control how local governments use them. For example, states can restrict the use of incentives to certain geographic areas or certain types of facilities; publish information on the use of property tax incentives; conduct studies on their effectiveness; and reduce destructive local tax competition by not reimbursing local governments for revenue they forgo when they award property tax incentives.Local government officials can make wiser use of property tax incentives for business and avoid such incentives when their costs exceed their benefits. Localities should set clear criteria for the types of projects eligible for incentives; limit tax breaks to mobile facilities that export goods or services out of the region; involve tax administrators and other stakeholders in decisions to grant incentives; cooperate on economic development with other jurisdictions in the area; and be clear from the outset that not all businesses that ask for an incentive will receive one.Despite a generally poor record in promoting economic development, property tax incentives continue to be used. The goal is laudable: attracting new businesses to a jurisdiction can increase income or employment, expand the tax base, and revitalize distressed urban areas. In a best case scenario, attracting a large facility can increase worker productivity and draw related firms to the area, creating a positive feedback loop. This report offers recommendations to improve the odds of achieving these economic development goals.

Detroit And The Property Tax

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Author : Gary Sands
language : en
Publisher:
Release Date : 2015

Detroit And The Property Tax written by Gary Sands and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with Real property tax categories.

This report outlines the problems underlying the erosion of Detroit's property tax base--a factor that contributed to the city's bankruptcy in 2013. It offers recommendations for reform at the local and state level, as well as insight and analysis to help policy makers across the country protect their communities from economic decline.

Urban Property Tax Reform

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Author : William R. Dillinger
language : en
Publisher: World Bank Publications
Release Date : 1992

Urban Property Tax Reform written by William R. Dillinger and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with Business & Economics categories.

This report adresses the policy and administrative constraints on property tax. It discusses institutional issues and strategies for reform and the steps required to address these underlying constraints on peformance of the tax. (Adapté du résumé).

Assessing The Theory And Practice Of Land Value Taxation

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Author : Richard F. Dye
language : en
Publisher: Lincoln Inst of Land Policy
Release Date : 2010

Assessing The Theory And Practice Of Land Value Taxation written by Richard F. Dye and has been published by Lincoln Inst of Land Policy this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Political Science categories.

The land value tax is the focus of this Policy Focus Report, Assessing the Theory and Practice of Land Value Taxation. A concept dating back to Henry George, the land value tax is a variant of the property tax that imposes a higher tax rate on land than on improvements, or taxes only the land value. Many other types of changes in property tax policy, such as assessment freezes or limitations, have undesirable side effects, including unequal treatment of similarly situated taxpayers and distortion of economic incentives. The land value tax can enhance both the fairness and the efficiency of property tax collection, with few undesirable effects; land is effectively in fixed supply, so an increase in the tax rate on land value will raise revenue without distorting the incentives for owners to invest in and use their land. A land value tax has also been seen as a way to combat urban sprawl by encouraging density and infill development. Authors Richard F. Dye and Richard W. England examine the experience of those who have implemented the land value tax -- more than 30 countries around the world, and in the United States, several municipalities dating back to 1913, when the Pennsylvania legislature permitted Pittsburgh and Scranton to tax land values at a higher rate than building values. A 1951 statute gave smaller Pennsylvania cities the same option to enact a two-rate property tax, a variation of the land value tax. About 15 communities currently use this type of tax program, while others tried and rescinded it. Hawaii also has experience with two-rate taxation, and Virginia and Connecticut have authorized municipalities to choose a two-rate property tax. The land value tax has been subjected to studies comparing jurisdictions with and without it, and to legal challenges. A land value tax also raises administrative issues, particularly in the area of property tax assessments. Land value taxation is an attractive alternative to the traditional property tax, especially to much more problematic types of property tax measures such as assessment limitations, the authors conclude. A land value tax is best implemented if local officials use best assessing practices to keep land and improvement values up to date; phase in dual tax rates over several years; and include a tax credit feature in those communities where land-rich but income-poor citizens might suffer from land value taxation.

Designing A Tax Administration Reform Strategy

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Author : Ms.Katherine Baer
language : en
Publisher: International Monetary Fund
Release Date : 1997-03-01

Designing A Tax Administration Reform Strategy written by Ms.Katherine Baer and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997-03-01 with Business & Economics categories.

Building on previous FAD work in the tax administration field, this paper defines broad criteria for diagnosing the problems in a country’s tax administration and formulating an appropriate reform strategy. To be effective, this strategy should be based on the size of the tax gap and the country’s particular circumstances. This paper discusses some guiding principles which have provided the basis for successful reforms, including: reducing the tax system’s complexity, encouraging taxpayers’ voluntary compliance, differentiating the treatment of taxpayers by their revenue potential, and ensuring the reform’s effective management. Also discussed are specific bottlenecks that hinder the effectiveness of the tax administration’s operations.

Estimates Of Federal Tax Expenditures

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Author : United States. Congress. Joint Committee on Internal Revenue Taxation
language : en
Publisher:
Release Date : 1976

Estimates Of Federal Tax Expenditures written by United States. Congress. Joint Committee on Internal Revenue Taxation and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1976 with Tax expenditures categories.

Planning Research

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Author : American Institute of Planners
language : en
Publisher:
Release Date : 1966

Planning Research written by American Institute of Planners and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1966 with City planning categories.

The President S 1978 Tax Reduction And Reform Proposals

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Author : United States. Congress. House. Committee on Ways and Means
language : en
Publisher:
Release Date : 1978

The President S 1978 Tax Reduction And Reform Proposals written by United States. Congress. House. Committee on Ways and Means and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1978 with Income tax categories.