A Primer on Property Tax: Administration and Policy by William J. McCluskey, Gary C. Cornia, Lawrence C. Walters

By William J. McCluskey, Gary C. Cornia, Lawrence C. Walters

'The chapters during this ebook discover intimately the alternatives concerning either the constitution and management of the valuables tax, drawing at the broad wisdom the authors have got in learning estate taxes around the globe. The chapters supply a wide-ranging remedy of the layout offerings and administrative projects, either by way of the breadth of layout thoughts and administrative projects coated and the intensity of the discussion.  The authors describe the diversity of layout offerings, speak about the linked concerns and the benefits and downsides for every, and current the factors to assist select one of the options.’

From the book’s Foreword by way of David L. Sjoquist, Professor of Economics and Dan E. Sweat pupil Chair in academic and neighborhood coverage, Georgia country University

Property taxation is a key point in offering a superior origin and a strong investment resource for uncomplicated public services.

Developing and imposing a estate tax approach is a posh job. This complexity is compounded via the variety of felony, cultural and ancient contexts of policymakers and tax directors. the realm improvement file (1999-2000), Entering the twenty first Century places financial decentralization on the most sensible of the improvement time table. This makes neighborhood taxation - and particularly the valuables tax choice - of severe value to either tax and land coverage, in addition to the wider improvement agenda.

A Primer on estate Tax: management and Policy presents the reader with an research of matters surrounding estate tax, together with economics, legislation, public finance, decentralisation, valuation, GIS and estate tax reform. A key power of the publication lies within the monstrous overseas adventure of the authors and the publication will offer for the 1st time fabric that is topical, state-of-the-art and hugely suitable to the various disciplines curious about estate taxation.

The authors study the standards utilized to guage the strengths and weaknesses of estate tax, speak about the most valuation tools and the commercial ideas underpinning them and overview the criminal and administrative elements of estate tax worldwide.

Chapter 1 estate Tax (pages 1–40): Harry Kitchen
Chapter 2 Value?Based methods to estate Taxation (pages 41–68): Riel Franzsen and William J. McCluskey
Chapter three The Politics of the valuables Tax (pages 69–88): Enid Slack
Chapter four management of neighborhood Taxes (pages 89–124): John L. Mikesell
Chapter five setting up a Tax price (pages 125–139): Kurt Zorn
Chapter 6 estate Tax assortment and Enforcement (pages 141–171): Roy Kelly
Chapter 7 The Tax every person likes to Hate (pages 173–186): Jay ok. Rosengard
Chapter eight felony matters in estate Tax management (pages 187–205): Frances Plimmer
Chapter nine Tax standards (pages 207–227): Gary C. Cornia
Chapter 10 Estimating estate Tax profit power (pages 229–247): Lawrence C. Walters
Chapter eleven Taxing Public Leasehold Land in Transition international locations (pages 249–264): Yu?Hung Hong
Chapter 12 estate Tax and casual estate (pages 265–286): Martim Smolka and Claudia M. De Cesare
Chapter thirteen Non?Market worth and Hybrid methods to estate Taxation (pages 287–305): William J. McCluskey and Riel Franzsen
Chapter 14 laptop Assisted Mass Appraisal And the valuables Tax (pages 307–338): William J. McCluskey, Peadar Davis, Michael McCord, David McIlhatton and Martin Haran
Chapter 15 Geographic info structures and the significance of place (pages 339–357): David McIlhatton, Michael McCord, Peadar Davis and Martin Haran

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Additional resources for A Primer on Property Tax: Administration and Policy

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Summary A uniform assessment system is necessary if one is to establish a tax base that is fair, transparent and accountable. Uniformity is more likely achieved if a few practices are followed. First, within a region, state, or province, all assessors work from a standard assessment manual that is updated frequently to reflect changing market conditions. Second, assessors should be required to pass specific education and training programmes on assessment practices and procedures. Third, Property Tax: A Situation Analysis and Overview 15 although the evidence is sketchy, assessors working for centralized assessment agencies seem to be more successful (because they are more likely to work at arm’s length) than those working for municipalities in achieving uniformity in assessment.

Indeed, this approach is becoming more and more common in countries relying on frequent property reassessments. Mass appraisal makes use of a multiple regression statistical package. It predicts the market value of properties from known values of other variables associated with these properties (such as living area, lot size, location, availability of garage, age of building, number of bathrooms, and so on). This technique examines properties that have actually sold and identifies the statistical relationship between a number of features of these properties and their selling price.

Third, they are efficient as long as higher tax rates apply to tax bases that are most inelastic in supply. Since residential property has an inelastic tax base when compared with commercial and industrial property (it can move to other municipalities and to other countries), this calls for higher tax rates on residential properties than on commercial and industrial properties, a practice that is almost never followed as is noted in the next section. Fourth, variable tax rates have a further advantage in that they could be used to distort decisions deliberately to achieve certain municipal land use objectives.

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