The Property Tax Bound
In most states, the property tax departs markedly from the ideal of a low–rate, broad–based tax that treats various types of real property uniformly. Recently, many states have responded to rapidly rising residential property values with new constraints such as assessment caps. This paper will review property tax performance and analyze several arguments relating to alleged deficiencies of the property tax. The analysis suggests that the property tax has performed well by most measures and that it ranks high in terms of both stability and revenue elasticity. The restrictions and constraints imposed on the property tax are likely the result of the pursuit of political objectives by decision makers and not the result of structural problems with the tax itself.
Volume (Year): 59 (2006)
Issue (Month): 3 (September)
|Contact details of provider:|| Postal: |
Fax: (202) 737-7308
Web page: http://www.ntanet.org/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:ntj:journl:v:59:y:2006:i:3:p:695-705. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Charmaine Wright)
If references are entirely missing, you can add them using this form.