What Are The Effects Of Tax Abatements And Government Incentives On Economic Development
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What Are The Effects Of Tax Abatements And Government Incentives On Economic Development
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Author : Jerry W. Rutherford
language : en
Publisher:
Release Date : 2012
What Are The Effects Of Tax Abatements And Government Incentives On Economic Development written by Jerry W. Rutherford and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with Economic development categories.
The debate over whether government incentives and tax abatements will enhance economic development continues to receive serious consideration by granting agencies. The State of Texas authorized the use of economic development programs via the Development Corporation Act in 1989 and various incentives have been used by Texas cities since its enactment. Currently, all fifty states and over 13,000 cities utilize many types of government incentives to stimulate economic development.
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.
The Impact Of Local Tax Policy On Urban Economic Development
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Author : Roy W. Bahl
language : en
Publisher:
Release Date : 1980
The Impact Of Local Tax Policy On Urban Economic Development written by Roy W. Bahl and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1980 with Community development, Urban categories.
This Information Bulletin explores the effects of local tax policy on urban economic development. The paper is practitioner-oriented and addresses the question of how local officials might best think through the advisability of adjusting local taxes to stimulate community job formation.
Incentives For Regional Development
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Author : K. Sridhar
language : en
Publisher: Springer
Release Date : 2005-08-17
Incentives For Regional Development written by K. Sridhar and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-08-17 with Business & Economics categories.
This book offers cross-national evidence of the effectiveness of financial and physical incentives for regional development. It challenges the traditional wisdom that competition is harmful for regional development or can be zero-sum. It answers questions such as: What are the effects of tax incentives on the rest of the economy? Do such incentives merely redistribute employment? Do tax and infrastructure incentives have any effect on the unemployment rate of areas adopting them?
The Impact Of State And Local Government Taxes Spending And Regulations On Business Climate And Economic Development
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Author : New Jersey State and Local Expenditure and Revenue Policy Commission
language : en
Publisher:
Release Date : 1987
The Impact Of State And Local Government Taxes Spending And Regulations On Business Climate And Economic Development written by New Jersey State and Local Expenditure and Revenue Policy Commission and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1987 with Finance, Public categories.
Local Government Tax And Land Use Policies In The United States
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Author : Helen F. Ladd
language : en
Publisher: Edward Elgar Publishing
Release Date : 1998
Local Government Tax And Land Use Policies In The United States written by Helen F. Ladd and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Business & Economics categories.
Offers an accessible, nontechnical evaluation of the most recent economic thinking on the nexus between local land use and tax policies. In Part I, the author summarizes the literature on the subject and explores theoretical controversies surrounding issues such as land use regulation as a fiscal tool, the effect of taxes on economic activity, and the success of tax policies to promote economic development. In Parts II and III, a group of experts presents new research on areas including the impact of growth on tax burdens and the shift to land value taxation in urban areas. For students, economists, planners, and policy makers. Annotation copyrighted by Book News, Inc., Portland, OR
Making Sense Of Incentives
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Author : Timothy J. Bartik
language : en
Publisher: W.E. Upjohn Institute
Release Date : 2019-10-15
Making Sense Of Incentives written by Timothy J. Bartik and has been published by W.E. Upjohn Institute this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-10-15 with Political Science categories.
Bartik provides a clear and concise overview of how state and local governments employ economic development incentives in order to lure companies to set up shop—and provide new jobs—in needy local labor markets. He shows that many such incentive offers are wasteful and he provides guidance, based on decades of research, on how to improve these programs.
Taxation And Economic Performance
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Author : Willi Leibfritz
language : en
Publisher: OECD
Release Date : 1997
Taxation And Economic Performance written by Willi Leibfritz and has been published by OECD this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with Fiscal policy categories.
This paper reviews the theoretical and empirical literature on the effects of taxation on economic performance, adds marginally to the empirical literature, and draws conclusions for tax policy in OECD countries.
Incentives To Pander
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Author : Nathan M. Jensen
language : en
Publisher: Cambridge University Press
Release Date : 2018-03-15
Incentives To Pander written by Nathan M. Jensen and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-03-15 with Political Science categories.
An examination of why politicians choose to employ targeted tax incentives to firms that are inefficient and distortionary.
Tax Law Design And Drafting Volume 1
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Author : Mr.Victor Thuronyi
language : en
Publisher: International Monetary Fund
Release Date : 1996-08-23
Tax Law Design And Drafting Volume 1 written by Mr.Victor Thuronyi 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 1996-08-23 with Business & Economics categories.
Edited by Victor Thuronyi, this book offers an introduction to a broad range of issues in comparative tax law and is based on comparative discussion of the tax laws of developed countries. It presents practical models and guidelines for drafting tax legislation that can be used by officials of developing and transition countries. Volume I covers general issues, some special topics, and major taxes other than income tax.