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

'The chapters during this booklet discover intimately the alternatives relating to either the constitution and management of the valuables tax, drawing at the large wisdom the authors have got in learning estate taxes world wide. The chapters supply a wide-ranging therapy of the layout offerings and administrative initiatives, either when it comes to the breadth of layout suggestions and administrative projects lined and the intensity of the discussion.  The authors describe the diversity of layout offerings, speak about the linked matters and the benefits and downsides for every, and current the factors to aid opt for one of the options.’

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

Property taxation is a key aspect in supplying a great beginning and a solid investment resource for simple public services.

Developing and imposing a estate tax process is a posh activity. This complexity is compounded via the variety of felony, cultural and old contexts of policymakers and tax directors. the area improvement record (1999-2000), Entering the twenty first Century places monetary decentralization on the best of the advance schedule. This makes neighborhood taxation - and particularly the valuables tax alternative - of serious value to either tax and land coverage, in addition to the wider improvement agenda.

A Primer on estate Tax: management and Policy offers the reader with an research of concerns surrounding estate tax, together with economics, legislations, public finance, decentralisation, valuation, GIS and estate tax reform. A key energy of the publication lies within the colossal overseas adventure of the authors and the publication will offer for the 1st time fabric that's topical, state-of-the-art and hugely appropriate to a few of the disciplines considering estate taxation.

The authors research the standards utilized to guage the strengths and weaknesses of estate tax, speak about the most valuation tools and the industrial rules underpinning them and evaluation the criminal and administrative features 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 constructing a Tax expense (pages 125–139): Kurt Zorn
Chapter 6 estate Tax assortment and Enforcement (pages 141–171): Roy Kelly
Chapter 7 The Tax all people likes to Hate (pages 173–186): Jay ok. Rosengard
Chapter eight criminal 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 capability (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 desktop 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 details platforms and the significance of place (pages 339–357): David McIlhatton, Michael McCord, Peadar Davis and Martin Haran

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Extra info for A Primer on Property Tax: Administration and Policy

Example text

There is also an issue of whether this over-taxation plays a role in location decisions. Since firms and businesses generally locate where they can maximize their profits, the provision of fiscal inducements such as lower property taxes can influence a firm’s location decision in the same way as the reduction in other production costs may play a role. The impact of property tax differentials depends on a number of factors including the size of the differential between competing municipalities and whether this differential is sufficient to offset differentials in other costs or market factors.

Tax billing and collection benefit from economies of scale; hence, these two functions could be handled by a private sector institution or by a larger unit of government. In the province of Ontario in Canada, for example, all regional and county governments (upper tier) set their own taxes independently of the tax rates set by the local municipalities (lower tier). The local municipalities then send out combined tax bills and collect both upper and lower tier taxes. This practice has been around for years and has been fiercely defended in the face of proposals to migrate billing and collection to the upper tier in order to take advantage of economies of scale.

Not only does it consist of higher property tax rates on these properties, it often consists of a number of other property related charges that have no relationship to services received or to property value. Higher property taxation of commercial and industrial properties is generally done in one of two ways: either through the practice of assessing business properties at higher values than residential properties with the same tax rate applied to both property types; or through the simple application of higher tax rates on business properties.

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