Rethinking Property Tax Incentives for Business

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Publisher :
ISBN 13 : 9781558442337
Total Pages : 0 pages
Book Rating : 4.4/5 (423 download)

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Book Synopsis Rethinking Property Tax Incentives for Business by : Daphne A. Kenyon

Download or read book Rethinking Property Tax Incentives for Business written by Daphne A. Kenyon and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The use of property tax incentives for business by local governments throughout the United States has escalated over the last 50 years. While there is little evidence that these tax incentives are an effective instrument to promote economic development, they cost state and local governments $5 to $10 billion each year in forgone revenue. Three major obstacles can impede the success of property tax incentives as an economic development tool. First, incentives are unlikely to have a significant impact on a firm's profitability since property taxes are a small part of the total costs for most businesses--averaging much less than 1 percent of total costs for the U.S. manufacturing sector. Second, tax breaks are sometimes given to businesses that would have chosen the same location even without the incentives. When this happens, property tax incentives merely deplete the tax base without promoting economic development. Third, widespread use of incentives within a metropolitan area reduces their effectiveness, because when firms can obtain similar tax breaks in most jurisdictions, incentives are less likely to affect business location decisions. This report reviews five types of property tax incentives and examines their characteristics, costs, and effectiveness: property tax abatement programs; tax increment finance; enterprise zones; firm-specific property tax incentives; and property tax exemptions in connection with issuance of industrial development bonds. Alternatives to tax incentives should be considered by policy makers, such as customized job training, labor market intermediaries, and business support services. State and local governments also can pursue a policy of broad-based taxes with low tax rates or adopt split-rate property taxation with lower taxes on buildings than land.State policy makers are in a good position to increase the effectiveness of property tax incentives since they control how local governments use them. For example, states can restrict the use of incentives to certain geographic areas or certain types of facilities; publish information on the use of property tax incentives; conduct studies on their effectiveness; and reduce destructive local tax competition by not reimbursing local governments for revenue they forgo when they award property tax incentives.Local government officials can make wiser use of property tax incentives for business and avoid such incentives when their costs exceed their benefits. Localities should set clear criteria for the types of projects eligible for incentives; limit tax breaks to mobile facilities that export goods or services out of the region; involve tax administrators and other stakeholders in decisions to grant incentives; cooperate on economic development with other jurisdictions in the area; and be clear from the outset that not all businesses that ask for an incentive will receive one.Despite a generally poor record in promoting economic development, property tax incentives continue to be used. The goal is laudable: attracting new businesses to a jurisdiction can increase income or employment, expand the tax base, and revitalize distressed urban areas. In a best case scenario, attracting a large facility can increase worker productivity and draw related firms to the area, creating a positive feedback loop. This report offers recommendations to improve the odds of achieving these economic development goals.

A Good Tax

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Author :
Publisher :
ISBN 13 : 9781558443426
Total Pages : 260 pages
Book Rating : 4.4/5 (434 download)

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Book Synopsis A Good Tax by : Joan Youngman

Download or read book A Good Tax written by Joan Youngman and published by . This book was released on 2016 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: In A Good Tax, tax expert Joan Youngman skillfully considers how to improve the operation of the property tax and supply the information that is often missing in public debate. She analyzes the legal, administrative, and political challenges to the property tax in the United States and offers recommendations for its improvement. The book is accessibly written for policy analysts and public officials who are dealing with specific property tax issues and for those concerned with property tax issues in general.

The Property Tax, School Funding Dilemma

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Publisher : Lincoln Inst of Land Policy
ISBN 13 : 9781558441682
Total Pages : 63 pages
Book Rating : 4.4/5 (416 download)

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Book Synopsis The Property Tax, School Funding Dilemma by : Daphne A. Kenyon

Download or read book The Property Tax, School Funding Dilemma written by Daphne A. Kenyon and published by Lincoln Inst of Land Policy. This book was released on 2007 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt: States experiencing taxpayer revolts among homeowners are tempted to reduce reliance on the property tax to fund schools. But a more targeted approach can provide property tax relief and improve state funding for public education. This policy focus report includes a comprehensive review of recent research on both property tax and school funding, and summarizes case studies of seven states-- California, Massachusetts, Michigan, New Hampshire, New Jersey, Ohio and Texas. The majority of these states are heavily reliant on property tax revenues to fund schools. While there is no one-size-fits-all solution, the report recommends addressing property taxes and school funding separately.

Research Handbook on Partnerships, LLCs and Alternative Forms of Business Organizations

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Publisher : Edward Elgar Publishing
ISBN 13 : 1783474408
Total Pages : 514 pages
Book Rating : 4.7/5 (834 download)

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Book Synopsis Research Handbook on Partnerships, LLCs and Alternative Forms of Business Organizations by : Robert W. Hillman

Download or read book Research Handbook on Partnerships, LLCs and Alternative Forms of Business Organizations written by Robert W. Hillman and published by Edward Elgar Publishing. This book was released on 2015-08-28 with total page 514 pages. Available in PDF, EPUB and Kindle. Book excerpt: While the partnership has been a viable alternative to incorporation for centuries, the much more recent limited liability company (LLC) has increasingly become the business organization of choice for new firms in the United States. This Handbook inclu

A Guide to Property Taxes

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Publisher :
ISBN 13 : 9781580242356
Total Pages : 0 pages
Book Rating : 4.2/5 (423 download)

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Book Synopsis A Guide to Property Taxes by : Mandy Rafool

Download or read book A Guide to Property Taxes written by Mandy Rafool and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report examines the various types of taxable property and explains the mechanics of how property taxes are levied. It also examines various types of property and examines how states classify property and how they apply different assessment ratios. Even though the property tax is largely a local tax, state law provides the power to impose it. In addition, state legislatures develop property tax policies that have major effects on local governments' ability to raise revenue and provide services.--Publisher's description.

Taxing Immovable Property Revenue Potential and Implementation Challenges

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Publisher : International Monetary Fund
ISBN 13 : 1484395220
Total Pages : 43 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Taxing Immovable Property Revenue Potential and Implementation Challenges by : Mr.John Norregaard

Download or read book Taxing Immovable Property Revenue Potential and Implementation Challenges written by Mr.John Norregaard and published by International Monetary Fund. This book was released on 2013-05-29 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: The tax on immovable property has been characterized as probably the most unpopular among tax instruments, in part because it is salient and hard to avoid. But economists continue to emphasize the virtues of the property tax owing to its relatively low efficieny costs, benign impact on growth, and high score on fairness. It is, therefore, generally considered to be underutilized in most countries. This paper takes stock of the arguments for using real property taxation, and presents an updated data-set for high-and middle income countries to illustrate its use. It also reflects the renewed and widespread interest in property tax reform globally, and discusses the many policy and administrative issues that must be carefully considered as prerequisites for successful property tax reform.

Basis of Assets

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Publisher :
ISBN 13 :
Total Pages : 20 pages
Book Rating : 4.:/5 (3 download)

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Book Synopsis Basis of Assets by :

Download or read book Basis of Assets written by and published by . This book was released on 1993 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Farmer's Tax Guide

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Publisher :
ISBN 13 :
Total Pages : 112 pages
Book Rating : 4.:/5 (3 download)

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Book Synopsis Farmer's Tax Guide by :

Download or read book Farmer's Tax Guide written by and published by . This book was released on 1998 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Tax Law of Unrelated Business for Nonprofit Organizations

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Publisher : John Wiley & Sons
ISBN 13 : 0471774626
Total Pages : 401 pages
Book Rating : 4.4/5 (717 download)

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Book Synopsis The Tax Law of Unrelated Business for Nonprofit Organizations by : Bruce R. Hopkins

Download or read book The Tax Law of Unrelated Business for Nonprofit Organizations written by Bruce R. Hopkins and published by John Wiley & Sons. This book was released on 2006-04-26 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Tax Law of Unrelated Business for Nonprofit Organizations is a comprehensive guide to the tax law of unrelated businesses for tax-exempt organizations, written by the leading expert in the field.

Options to Improve Tax Compliance and Reform Tax Expenditures

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Publisher : Joint Committee on Taxation
ISBN 13 :
Total Pages : 444 pages
Book Rating : 4.:/5 (327 download)

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Book Synopsis Options to Improve Tax Compliance and Reform Tax Expenditures by : United States. Congress. Joint Committee on Taxation

Download or read book Options to Improve Tax Compliance and Reform Tax Expenditures written by United States. Congress. Joint Committee on Taxation and published by Joint Committee on Taxation. This book was released on 2005 with total page 444 pages. Available in PDF, EPUB and Kindle. Book excerpt: Describes proposals to to reduce the size of the Federal tax gap by curtaling tax shelters, closing unintended loopholes, addressing other areas of noncompliance with current tax law, and reforming certain areas of tax expenditures.

Alternative service delivery

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Publisher :
ISBN 13 :
Total Pages : 488 pages
Book Rating : 4.3/5 (121 download)

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Book Synopsis Alternative service delivery by : United States. Congress. Senate. Committee on Governmental Affairs. Subcommittee on Intergovernmental Relations

Download or read book Alternative service delivery written by United States. Congress. Senate. Committee on Governmental Affairs. Subcommittee on Intergovernmental Relations and published by . This book was released on 1982 with total page 488 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Practical Guide to Real Estate Taxation

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Publisher : CCH
ISBN 13 : 9780808017004
Total Pages : 700 pages
Book Rating : 4.0/5 (17 download)

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Book Synopsis Practical Guide to Real Estate Taxation by : David F. Windish

Download or read book Practical Guide to Real Estate Taxation written by David F. Windish and published by CCH. This book was released on 2007-09 with total page 700 pages. Available in PDF, EPUB and Kindle. Book excerpt: Practical Guide to Real Estate Taxation is CCH's highly successful practical guide to the federal tax consequences of real estate ownership, operations and activities. This updated Fifth Edition is the most accessible and affordable reference available for all tax, real estate and investment professionals who need to know the tax ramifications and underpinnings of real estate investment. Recent regulations, tax rates and rulings are reflected throughout, along with other developments impacting the taxation of real estate.

Plan for Implementing the Silvio O. Conte National Fish and Wildlife Refuge Act in the Connecticut River Watershed [CT,MA,VT,NH]

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Publisher :
ISBN 13 :
Total Pages : 418 pages
Book Rating : 4.3/5 (555 download)

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Book Synopsis Plan for Implementing the Silvio O. Conte National Fish and Wildlife Refuge Act in the Connecticut River Watershed [CT,MA,VT,NH] by :

Download or read book Plan for Implementing the Silvio O. Conte National Fish and Wildlife Refuge Act in the Connecticut River Watershed [CT,MA,VT,NH] written by and published by . This book was released on 1995 with total page 418 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Public Lands Acquisition Alternative Act of 1983

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Publisher :
ISBN 13 :
Total Pages : 128 pages
Book Rating : 4.:/5 (319 download)

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Book Synopsis Public Lands Acquisition Alternative Act of 1983 by : United States. Congress. Senate. Committee on Finance. Subcommittee on Energy and Agricultural Taxation

Download or read book Public Lands Acquisition Alternative Act of 1983 written by United States. Congress. Senate. Committee on Finance. Subcommittee on Energy and Agricultural Taxation and published by . This book was released on 1984 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Urban Public Finance in Developing Countries

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Publisher : Oxford University Press, USA
ISBN 13 :
Total Pages : 576 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Urban Public Finance in Developing Countries by : Roy W. Bahl

Download or read book Urban Public Finance in Developing Countries written by Roy W. Bahl and published by Oxford University Press, USA. This book was released on 1992 with total page 576 pages. Available in PDF, EPUB and Kindle. Book excerpt: And Evaluation of Local Automotive Taxation. 8. Other Urban Taxes. Policy Objectives. Local Income Taxes. General Sales Taxes. Local Taxes on Industry, Commerce, and Professions. "Terminal" Taxes. Local Sumptuary Taxes. Entertainment Taxes. Minor Local Taxes, Licenses, and Fees. Summary and Evaluation -- Pt. III. User Charges for Urban Services. 9. Issues in Pricing Urban Services. The Efficiency Argument for User Charges. Fiscal Considerations and Full Cost Pricing. Income Distribution Considerations. The Politics and Institutions of Public Service Pricing. 10. Charging for Urban Water Services. Pricing Water Supply Services. Sewerage and Drainage. Summary. 11. Charging for Other Urban Services. Electricity and Telephone Services. Collecting and Disposing of Solid Waste. Mass Transit. Housing. Development Charges -- Pt. IV. Intergovernmental Fiscal Relations. 12. The Structure of Urban Governance. Fiscal Decentralization. The National Structure of Urban Government.

Alternative Approaches to Housing Older Americans

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Publisher :
ISBN 13 :
Total Pages : 98 pages
Book Rating : 4.:/5 (327 download)

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Book Synopsis Alternative Approaches to Housing Older Americans by : United States. Congress. Senate. Special Committee on Aging

Download or read book Alternative Approaches to Housing Older Americans written by United States. Congress. Senate. Special Committee on Aging and published by . This book was released on 1982 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Financial Planning and Management in Public Organizations

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Publisher : CRC Press
ISBN 13 : 1482270935
Total Pages : 423 pages
Book Rating : 4.4/5 (822 download)

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Book Synopsis Financial Planning and Management in Public Organizations by : Alan W. Steiss

Download or read book Financial Planning and Management in Public Organizations written by Alan W. Steiss and published by CRC Press. This book was released on 2001-08-17 with total page 423 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work focuses on the theory and practice of financial management in public organizations and local government, highlighting the planning, analysis, and control skills necessary to navigate a future of change in technology, society, politics and economics. It details three fundamental areas of responsibility in the annual financial management cy