Implications of a Land Value Tax with Error in Assessed Values
Land value taxation has numerous potential advantages compared to conventional property taxes on capital and land. The models that establish these advantages, however, are grounded in the unlikely assumption that land values are assessed without error. This paper demonstrates that levying taxes based on land values assessed with error is equivalent to the application of one tax rate to the true value of land and a different effective tax rate to capital. The model demonstrates that a land value tax will have at most the distortion effects of a property tax, even with the worst possible land value assessment errors.
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- Richard Arnott & Petia Petrova, 2002.
"The Property Tax as a Tax on Value: Deadweight Loss,"
Boston College Working Papers in Economics
532, Boston College Department of Economics.
- Richard Arnott & Petia Petrova, 2006. "The Property Tax as a Tax on Value: Deadweight Loss," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 13(2), pages 241-266, May.
- Richard Arnott & Petia Petrova, 2002. "The Property Tax as a Tax on Value: Deadweight Loss," IDEP Working Papers 0203, Institut d'economie publique (IDEP), Marseille, France, revised Apr 2002.
- Richard Arnott & Petia Petrova, 2002. "The Property Tax as a Tax on Value: Deadweight Loss," NBER Working Papers 8913, National Bureau of Economic Research, Inc.
- Richard W. England, 2003. "State and Local Impacts of a Revenue-Neutral Shift from a Uniform Property to a Land Value Tax: Results of a Simulation Study," Land Economics, University of Wisconsin Press, vol. 79(1), pages 38-43.
- England, Richard W. & Zhao, Min Qiang, 2005. "Assessing the Distributive Impact of a Revenue–Neutral Shift from a Uniform Property Tax to a Two-Rate Property Tax with a Uniform Credit," National Tax Journal, National Tax Association, vol. 58(2), pages 247-60, June.
- John E. Anderson, 2003. "Preferential assessment: impacts and alternatives," Chapters, in: The Property Tax, Land Use and Land Use Regulation, chapter 3 Edward Elgar Publishing.
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