Property Tax Assessment Limits

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Property Tax Assessment Limits

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Author : Mark Haveman
language : en
Publisher:
Release Date : 2008

Property Tax Assessment Limits written by Mark Haveman and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Property tax categories.

This policy focus report examines options that exist for timely and efficient aid to needy taxpayers, including circuit breaker programs that reduce taxes based on income level; truth in taxation measures; deferral options on property tax payments; partial exemptions on owner-occupied or homestead properties; and classified tax rates.

Assessment Limits

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Author : Katrina D Connolly
language : en
Publisher:
Release Date : 2013

Assessment Limits written by Katrina D Connolly and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.

This paper discusses assessment limits which are a type tax expenditure that limits or places a cap on the amount a property can increase in assessed value for taxation each year. This paper describes assessment limits and some of the policy issues associated with this approach to providing property tax relief. That is followed by a discussion of methods used for estimating the foregone revenue resulting from such limits. Next, case studies of two counties in New Mexico are presented, San Juan County and Los Alamos. Using property valuation data, the foregone revenue due to the assessment limit and its impact on assessment uniformity and equity are estimated.

Property Tax Limits

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Author : Robert J. Gloudemans
language : en
Publisher:
Release Date : 1978

Property Tax Limits written by Robert J. Gloudemans and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1978 with Property tax categories.

A Guide To Property Taxes

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Author :
language : en
Publisher:
Release Date : 2002

A Guide To Property Taxes written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Law categories.

The Algebra Of Tax Burden Shifts From Assessment Limitations

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Author : Richard F. Dye
language : en
Publisher:
Release Date : 2007

The Algebra Of Tax Burden Shifts From Assessment Limitations written by Richard F. Dye and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with categories.

Although assessment limits appear to be an attractive policy option in areas with rapidly growing market values because they keep a homeowner's property tax from rising rapidly without placing restrictions on expenditure growth, the policies often have unintended distributional effects. A stylized model demonstrates that taxes must rise for some groups in order to provide tax relief to others. The model confirms that an apparently surprising result is a logical necessity of assessment limits: taxes can increase for groups who appear to be enjoying tax relief. The extent of the tax increase is higher (1) the greater the appreciation rate for other favored properties and (2) the higher the percentage of favored properties with higher appreciation rates.

Local Tax And Expenditure Limits

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Author : Ronald Shanovich
language : en
Publisher: Legislative Reference Bureau
Release Date : 1980

Local Tax And Expenditure Limits written by Ronald Shanovich and has been published by Legislative Reference Bureau this book supported file pdf, txt, epub, kindle and other format this book has been release on 1980 with Local finance categories.

Chronicle Of The 161 Year History Of State Imposed Property Tax Limitations

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Author : Bethany P. Paquin
language : en
Publisher:
Release Date :

Chronicle Of The 161 Year History Of State Imposed Property Tax Limitations written by Bethany P. Paquin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.

Property Assessment Limits

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Author : Aaron Twait
language : en
Publisher:
Release Date :

Property Assessment Limits written by Aaron Twait and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.

Essays On Property Tax Limitation Mechanisms

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Author : Bryan Michael Shone
language : en
Publisher:
Release Date : 2009

Essays On Property Tax Limitation Mechanisms written by Bryan Michael Shone and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.

Over the last half-century, the United States has experienced a tax revolution at the local level of government. Driven by preferences of many residents to limit the size and growth of local government, the tax revolts have spread rapidly since the installment of Proposition 13 in the state of California in the late 1970s. Today, tax and expenditure limitations (TELs), such as property tax limits, have been implemented in the vast majority of states for a variety of reasons. This expansion in the use of TELs has raised three main questions among economists. First, why are TELs implemented to begin with? Second, do TELs achieve the objectives that they have been set out to accomplish? Lastly, are there any consequences or adverse effects of the implementation of TELs? In this study, I shed light on each of these three questions with a primary focus on the use county-level property tax assessment caps in the state of Maryland. The "Homestead Property Tax Credit" was reformed in Maryland in 1992 to allow each county-level government the right to set an assessment cap associated with owner-occupied property tax bills at any magnitude between zero and ten percent. This unique structure of the property tax allows for the empirical examination of the choice of magnitude of assessment caps in Essay 1 to further understand those characteristics associated with preferences for varying levels of residential property tax relief. Results suggest that substitutability among revenue sources and shocks to the housing market play a key role in the preferences for such tax relief. In Essay 2, I examine an important consequence associated with targeted tax relief by empirically investigating shifts in the relative burden of the property tax. Results indicate that jurisdictions associated with preferences for higher levels of residential property tax relief may increase the level and share of non-residential property tax levies, shifting the relative burden of the property tax from homeowners to businesses. The results in each of these two essays provide policymakers with important information regarding the effects of installing property tax limits at various magnitudes.

Tax And Expenditure Limits On Local Governments

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Author :
language : en
Publisher:
Release Date : 1995

Tax And Expenditure Limits On Local Governments written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Government spending policy categories.