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 revie...

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Published in:National tax journal 2006-09, Vol.LIX (3), p.695-706
Main Author: Giertz, J Fred
Format: Article
Language:English
Subjects:
Federal states
Property taxes
Public finance
Public revenue
Tax rates
Taxation
U.S.A
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container_title National tax journal
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creator Giertz, J Fred
description 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.
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source EconLit s plnými texty; EBSCOhost Business Source Ultimate; International Bibliography of the Social Sciences (IBSS); JSTOR Archival Journals and Primary Sources Collection; ABI/INFORM Global
subjects Federal states
Property taxes
Public finance
Public revenue
Tax rates
Taxation
U.S.A
title The property tax bound
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