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Author: Billy Hamilton
Publisher:
ISBN:
Category : Local taxation
Languages : en
Pages : 598
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Book Description
Author: Billy Hamilton
Publisher:
ISBN:
Category : Local taxation
Languages : en
Pages : 598
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Book Description
Author: Daphne A. Kenyon
Publisher:
ISBN: 9781558442337
Category : Electronic books
Languages : en
Pages : 0
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Book Description
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.
Author: Joan Youngman
Publisher:
ISBN: 9781558443426
Category : Local finance
Languages : en
Pages : 260
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Book Description
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.
Author: Norma Cobb
Publisher: Macmillan
ISBN: 9780312283797
Category : Biography & Autobiography
Languages : en
Pages : 316
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Book Description
Chronicles a family's efforts to build a home near the Arctic Circle in Alaska, depicting their moving discovery of love and courage in a land of modern-day outlaws, feuds, grizzly bears, and unbelievably harsh winters.
Author: Texas
Publisher:
ISBN:
Category : Property
Languages : en
Pages :
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Book Description
Author: Clarence Y. H. Lo
Publisher: Univ of California Press
ISBN: 9780520200289
Category : Social Science
Languages : en
Pages : 316
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Book Description
Tax reformers, take note. Clarence Lo's investigation of California's Proposition 13 and other tax reduction bills is both a tribute and a warning to people who get "mad as hell" and try to do something about being pushed around by government. Homeowners in California, faced with impossible property tax bills in the 1970s, got mad and pushed back, starting an avalanche that swept tax limitation measures into state after state. What we learn is that, although the property tax was slashed, two-thirds of the benefits went to business owners rather than homeowners. How did a crusade launched by homeowning consumers seeking tax relief end up as a pro-business, supply-side political program? To trace the transformation, Lo uses the firsthand recollections of 120 activists in the movement, going back to the 1950s. He shows how their protests were ignored, until a suburban alliance of upper-middle-class property owners and business owners took charge. It was the program of that latter group, not the plight of the moderate-income homeowner, which inspired tax revolts across the nation and shaped the economic policies of the Reagan administration. Tax reformers, take note. Clarence Lo's investigation of California's Proposition 13 and other tax reduction bills is both a tribute and a warning to people who get "mad as hell" and try to do something about being pushed around by government. Homeowners in California, faced with impossible property tax bills in the 1970s, got mad and pushed back, starting an avalanche that swept tax limitation measures into state after state. What we learn is that, although the property tax was slashed, two-thirds of the benefits went to business owners rather than homeowners. How did a crusade launched by homeowning consumers seeking tax relief end up as a pro-business, supply-side political program? To trace the transformation, Lo uses the firsthand recollections of 120 activists in the movement, going back to the 1950s. He shows how their protests were ignored, until a suburban alliance of upper-middle-class property owners and business owners took charge. It was the program of that latter group, not the plight of the moderate-income homeowner, which inspired tax revolts across the nation and shaped the economic policies of the Reagan administration.
Author:
Publisher:
ISBN:
Category : Land use
Languages : en
Pages : 1362
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Book Description
Author: Texas. Secretary of State
Publisher:
ISBN:
Category : Delegated legislation
Languages : en
Pages : 1198
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Book Description
Author: Ohio. General Assembly. Legislative Service Commission
Publisher:
ISBN:
Category : Legislation
Languages : en
Pages : 208
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Book Description
Author: Barbara Kingsolver
Publisher: Harper Collins
ISBN: 0061795836
Category : Biography & Autobiography
Languages : en
Pages : 403
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Book Description
Bestselling author Barbara Kingsolver returns with her first nonfiction narrative that will open your eyes in a hundred new ways to an old truth: You are what you eat. "As the U.S. population made an unprecedented mad dash for the Sun Belt, one carload of us paddled against the tide, heading for the Promised Land where water falls from the sky and green stuff grows all around. We were about to begin the adventure of realigning our lives with our food chain. "Naturally, our first stop was to buy junk food and fossil fuel. . . ." Hang on for the ride: With characteristic poetry and pluck, Barbara Kingsolver and her family sweep readers along on their journey away from the industrial-food pipeline to a rural life in which they vow to buy only food raised in their own neighborhood, grow it themselves, or learn to live without it. Their good-humored search yields surprising discoveries about turkey sex life and overly zealous zucchini plants, en route to a food culture that's better for the neighborhood and also better on the table. Part memoir, part journalistic investigation, Animal, Vegetable, Miracle makes a passionate case for putting the kitchen back at the center of family life and diversified farms at the center of the American diet. "This is the story of a year in which we made every attempt to feed ourselves animals and vegetables whose provenance we really knew . . . and of how our family was changed by our first year of deliberately eating food produced from the same place where we worked, went to school, loved our neighbors, drank the water, and breathed the air." Includes an excerpt from Flight Behavior.
