Beyond one-size-fits-all: Adaptive pathways in property tax base

Amid fiscal pressures and rising public expectations, the long-standing choice of value (ad valorem) versus area as the base for recurrent property taxation has regained prominence. This study identifies when each base performs better across heterogeneous institutional and market contexts. Evidence combines an international expert survey (n = 39, 23 countries) with a structured literature review; findings are organised with a TOWS matrix to link system characteristics to practicable reform options. Unlike many comparative approaches, which focus primarily on assessing the position of the entity under study relative to other entities, the TOWS matrix allows one to move from diagnosing the situation to identifying potential courses of action. Results indicate that value-based assessment is preferable where credible price evidence, regular revaluations, and coherent appeals procedures are in place. An area-based assessment can be justified under limited data and capacity, and the need for ease of implementation and maintenance with constrained resources. The analysis clarifies trade-offs among equity of burdens, administrative efficiency/revenue performance, and public acceptance, and distils criteria for selecting the tax base aligned to institutional and market maturity. Rather than advocating a one-size-fits-all solution, the article sets out context-sensitive, adaptive reform strategies tailored to different stages of institutional and market development. Hybrid or phased approaches are presented as realistic pathways to align annual property taxes with goals of equity, reliable revenues, and administrative feasibility.