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Tax Motivated Takings

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Author Info

  • Thomas J. Miceli

    (University of Connecticut)

  • Kathleen Segerson

    (University of Connecticut)

  • C. F. Sirmans

    (University of Connecticut)

Abstract

Tax motivated takings are takings by a local government aimed purely at increasing its tax base. Such an action was justified by the Supreme Court's ruling in Kelo v. New London, which allowed the use of eminent domain for a private redevelopment project on the grounds that the project promised spillover public benefits in the form of jobs and taxes. This paper argues that tax motivated takings can lead to inefficient transfers of land for the simple reason that assessed values understate owners' true values. We therefore propose a reassessment scheme that greatly reduces the risk of this sort of inefficiency.

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File URL: http://www.econ.uconn.edu/working/2007-43.pdf
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Bibliographic Info

Paper provided by University of Connecticut, Department of Economics in its series Working papers with number 2007-43.

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Length: 17 pages
Date of creation: Nov 2007
Date of revision:
Handle: RePEc:uct:uconnp:2007-43

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Postal: University of Connecticut 341 Mansfield Road, Unit 1063 Storrs, CT 06269-1063
Phone: (860) 486-4889
Fax: (860) 486-4463
Web page: http://www.econ.uconn.edu/
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Related research

Keywords: Eminent domain; holdout problem; property taxes; takings; urban redevelopment;

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References

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  1. Thomas Miceli & Kathleen Segerson, 2006. "A Bargaining Model of Holdouts and Takings," Working papers 2006-22, University of Connecticut, Department of Economics, revised Mar 2007.
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Cited by:
  1. Thomas Miceli, 2011. "Free riders, holdouts, and public use: a tale of two externalities," Public Choice, Springer, vol. 148(1), pages 105-117, July.

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