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.

The Impact of Local Tax Policy on Urban Economic Development

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Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.:/5 (31 download)

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Book Synopsis The Impact of Local Tax Policy on Urban Economic Development by : Roy W. Bahl

Download or read book The Impact of Local Tax Policy on Urban Economic Development written by Roy W. Bahl and published by . This book was released on 1980 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Information Bulletin explores the effects of local tax policy on urban economic development. The paper is practitioner-oriented and addresses the question of how local officials might best think through the advisability of adjusting local taxes to stimulate community job formation.

Detroit and the Property Tax

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Publisher :
ISBN 13 : 9781558443419
Total Pages : 0 pages
Book Rating : 4.4/5 (434 download)

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Book Synopsis Detroit and the Property Tax by : Gary Sands

Download or read book Detroit and the Property Tax written by Gary Sands and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report outlines the problems underlying the erosion of Detroit's property tax base--a factor that contributed to the city's bankruptcy in 2013. It offers recommendations for reform at the local and state level, as well as insight and analysis to help policy makers across the country protect their communities from economic decline.

Assessors Warrant. [A Form Filled Up with the Names of Assessors for the Borough of Liverpool.] (The Duty of Assessors Under an Act Passed in the Forty-third Year of the Reign of His Present Majesty, Etc.).

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Publisher :
ISBN 13 :
Total Pages : 24 pages
Book Rating : 4.0/5 (27 download)

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Book Synopsis Assessors Warrant. [A Form Filled Up with the Names of Assessors for the Borough of Liverpool.] (The Duty of Assessors Under an Act Passed in the Forty-third Year of the Reign of His Present Majesty, Etc.). by : Great Britain. Board of Inland Revenue

Download or read book Assessors Warrant. [A Form Filled Up with the Names of Assessors for the Borough of Liverpool.] (The Duty of Assessors Under an Act Passed in the Forty-third Year of the Reign of His Present Majesty, Etc.). written by Great Britain. Board of Inland Revenue and published by . This book was released on 1814 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Improving Tax Increment Financing (TIF) for Economic Development

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Publisher :
ISBN 13 : 9781558443778
Total Pages : 0 pages
Book Rating : 4.4/5 (437 download)

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Book Synopsis Improving Tax Increment Financing (TIF) for Economic Development by : David Merriman

Download or read book Improving Tax Increment Financing (TIF) for Economic Development written by David Merriman and published by . This book was released on 2018-09-05 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economist David Merriman of the University of Illinois at Chicago reviews more than 30 individual studies in the most comprehensive assessment of tax increment financing (TIF) with practical recommendations for policy makers and practitioners. The report finds that while TIF has the potential to draw investment into neglected places, it has not accomplished the goal of promoting economic development in most cases. First implemented in the 1950s, TIF funds economic development within a defined district by earmarking increases in future property tax revenues that result from increases in real estate values in the district. The tax revenue can be used for public infrastructure or to compensate private developers for their investments, but TIF is prone to several pitfalls: it often captures some revenues that would have been generated through normal appreciation in property values, it can be exploited by cities to obtain revenues that would otherwise go to overlying government entities such as school districts, and it can make cities' financial decisions less transparent by separating them from the normal budget process. The report recommends several ways that state and local policy makers can reform TIF practices going forward.

Louisiana Architecture

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Publisher : University of Louisiana
ISBN 13 :
Total Pages : 124 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Louisiana Architecture by : Jonathan Fricker

Download or read book Louisiana Architecture written by Jonathan Fricker and published by University of Louisiana. This book was released on 1998 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introduction to architectural styles that have shaped Louisiana's landscapes.

A Good Tax

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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.

Some Microeconomics of Fiscal Deficit Reductions

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Publisher : International Monetary Fund
ISBN 13 : 1451924054
Total Pages : 31 pages
Book Rating : 4.4/5 (519 download)

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Book Synopsis Some Microeconomics of Fiscal Deficit Reductions by : International Monetary Fund

Download or read book Some Microeconomics of Fiscal Deficit Reductions written by International Monetary Fund and published by International Monetary Fund. This book was released on 1989-01-01 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper considers the merits of reducing or eliminating some specific tax expenditure measures currently in force in the United States with a view to reducing the federal fiscal deficit. The paper starts from the observation that savings decisions in the United States are distorted and that therefore government borrowing to finance current expenditures results in significant welfare losses. It is possible by reducing or eliminating individual tax expenditures to reduce the fiscal deficit while at the same time enhancing economic efficiency. However, tax expenditures are heterogeneous so changes to the range of tax expenditures should be selective.

American Recovery and Reinvestment Act of 2009

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Publisher : CCH
ISBN 13 : 9780808021490
Total Pages : 692 pages
Book Rating : 4.0/5 (214 download)

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Book Synopsis American Recovery and Reinvestment Act of 2009 by :

Download or read book American Recovery and Reinvestment Act of 2009 written by and published by CCH. This book was released on 2009 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Self-employment Tax

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ISBN 13 :
Total Pages : 12 pages
Book Rating : 4.:/5 (319 download)

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Book Synopsis Self-employment Tax by :

Download or read book Self-employment Tax written by and published by . This book was released on 1988 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Commercial Tax Abatements

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ISBN 13 :
Total Pages : 34 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Commercial Tax Abatements by : Jon Gauthier

Download or read book Commercial Tax Abatements written by Jon Gauthier and published by . This book was released on 1987 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Strong Towns

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Publisher : John Wiley & Sons
ISBN 13 : 1119564816
Total Pages : 262 pages
Book Rating : 4.1/5 (195 download)

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Book Synopsis Strong Towns by : Charles L. Marohn, Jr.

Download or read book Strong Towns written by Charles L. Marohn, Jr. and published by John Wiley & Sons. This book was released on 2019-10-01 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: A new way forward for sustainable quality of life in cities of all sizes Strong Towns: A Bottom-Up Revolution to Build American Prosperity is a book of forward-thinking ideas that breaks with modern wisdom to present a new vision of urban development in the United States. Presenting the foundational ideas of the Strong Towns movement he co-founded, Charles Marohn explains why cities of all sizes continue to struggle to meet their basic needs, and reveals the new paradigm that can solve this longstanding problem. Inside, you’ll learn why inducing growth and development has been the conventional response to urban financial struggles—and why it just doesn’t work. New development and high-risk investing don’t generate enough wealth to support itself, and cities continue to struggle. Read this book to find out how cities large and small can focus on bottom-up investments to minimize risk and maximize their ability to strengthen the community financially and improve citizens’ quality of life. Develop in-depth knowledge of the underlying logic behind the “traditional” search for never-ending urban growth Learn practical solutions for ameliorating financial struggles through low-risk investment and a grassroots focus Gain insights and tools that can stop the vicious cycle of budget shortfalls and unexpected downturns Become a part of the Strong Towns revolution by shifting the focus away from top-down growth toward rebuilding American prosperity Strong Towns acknowledges that there is a problem with the American approach to growth and shows community leaders a new way forward. The Strong Towns response is a revolution in how we assemble the places we live.

Fiscal Disparities: The commerce clause and the severance tax

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Publisher :
ISBN 13 :
Total Pages : 780 pages
Book Rating : 4.0/5 (16 download)

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Book Synopsis Fiscal Disparities: The commerce clause and the severance tax by : United States. Congress. Senate. Committee on Governmental Affairs. Subcommittee on Intergovernmental Relations

Download or read book Fiscal Disparities: The commerce clause and the severance tax 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 780 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Bureaucrats in Business

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Publisher : World Bank Publications
ISBN 13 : 9780195211061
Total Pages : 370 pages
Book Rating : 4.2/5 (11 download)

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Book Synopsis Bureaucrats in Business by :

Download or read book Bureaucrats in Business written by and published by World Bank Publications. This book was released on 1995 with total page 370 pages. Available in PDF, EPUB and Kindle. Book excerpt: Refer review of this policy book in 'Journal of International Development, vol. 10, 7, 1998. pp.841-855.

WPW Acquisition Company v City of Troy, 466 Mich 117 (2002)

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Publisher :
ISBN 13 :
Total Pages : 136 pages
Book Rating : 4.L/5 ( download)

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Book Synopsis WPW Acquisition Company v City of Troy, 466 Mich 117 (2002) by :

Download or read book WPW Acquisition Company v City of Troy, 466 Mich 117 (2002) written by and published by . This book was released on 2002 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt: 118750

Environmental Quality

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ISBN 13 :
Total Pages : 540 pages
Book Rating : 4.:/5 (3 download)

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Book Synopsis Environmental Quality by : Council on Environmental Quality (U.S.)

Download or read book Environmental Quality written by Council on Environmental Quality (U.S.) and published by . This book was released on 1973 with total page 540 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Stewart International Airport Properties, Master Plan for Development of the Airport and Adjacent Lands

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Publisher :
ISBN 13 :
Total Pages : 648 pages
Book Rating : 4.3/5 (555 download)

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Book Synopsis Stewart International Airport Properties, Master Plan for Development of the Airport and Adjacent Lands by :

Download or read book Stewart International Airport Properties, Master Plan for Development of the Airport and Adjacent Lands written by and published by . This book was released on 1992 with total page 648 pages. Available in PDF, EPUB and Kindle. Book excerpt: