Author: John Edwin Anderson
Publisher:
ISBN: 9781558442979
Category : Land value taxation
Languages : en
Pages : 0
Book Description
State and local governments in this country have adopted a number of policies to regulate the conversion of rural land to developed uses. One of the most significant and least understood is preferential assessment of rural land under the real property tax, often called use-value assessment (UVA) or current-use assessment. This book explains and analyzes the critical questions raised by this fiscal tool for farmland preservation. Under UVA, the assessments of various parcels of land within a given state may vary tremendously from property to property. A tract that is zoned residential with access to a turnpike might be assessed at $7,865 per acre. In the very same neighborhood, though, an even larger tract of vacant land might be assessed at a mere $127 per acre, which is far below the market value. How can there be such dramatic differences in the assessment of land values within the same community or neighborhood? Has the town assessor failed to treat property owners fairly and equally, as required by state law? Not at all. Nearly all states across the country permit, and even require, local assessors to value some parcels of undeveloped land far below their fair market values for the purpose of levying local property taxes. Despite their stated purpose of preserving rural lands from urban development, UVA programs can have unintended negative consequences. One is erosion of the legal and constitutional principle of uniformity of taxation; another is shifting of the local tax burden to other property owners, perhaps in a regressive manner. Occasionally UVA programs generate political controversy and even legislative action concerning "fake farmers" who enjoy low property tax bills, but whose land might only be used to sell firewood or Christmas trees to a few friends and neighbors. This volume explains the origins, key features, impacts, and flaws of use-value assessment programs across the United States. It describes in detail the process and characteristics of UVA programs in 44 states and recommends reforms. This book serves as a road map for public officials, scholars, and journalists concerned with agricultural taxation and land use issues.
Use-value Assessment of Rural Land in the United States
Author: John Edwin Anderson
Publisher:
ISBN: 9781558442979
Category : Land value taxation
Languages : en
Pages : 0
Book Description
State and local governments in this country have adopted a number of policies to regulate the conversion of rural land to developed uses. One of the most significant and least understood is preferential assessment of rural land under the real property tax, often called use-value assessment (UVA) or current-use assessment. This book explains and analyzes the critical questions raised by this fiscal tool for farmland preservation. Under UVA, the assessments of various parcels of land within a given state may vary tremendously from property to property. A tract that is zoned residential with access to a turnpike might be assessed at $7,865 per acre. In the very same neighborhood, though, an even larger tract of vacant land might be assessed at a mere $127 per acre, which is far below the market value. How can there be such dramatic differences in the assessment of land values within the same community or neighborhood? Has the town assessor failed to treat property owners fairly and equally, as required by state law? Not at all. Nearly all states across the country permit, and even require, local assessors to value some parcels of undeveloped land far below their fair market values for the purpose of levying local property taxes. Despite their stated purpose of preserving rural lands from urban development, UVA programs can have unintended negative consequences. One is erosion of the legal and constitutional principle of uniformity of taxation; another is shifting of the local tax burden to other property owners, perhaps in a regressive manner. Occasionally UVA programs generate political controversy and even legislative action concerning "fake farmers" who enjoy low property tax bills, but whose land might only be used to sell firewood or Christmas trees to a few friends and neighbors. This volume explains the origins, key features, impacts, and flaws of use-value assessment programs across the United States. It describes in detail the process and characteristics of UVA programs in 44 states and recommends reforms. This book serves as a road map for public officials, scholars, and journalists concerned with agricultural taxation and land use issues.
Publisher:
ISBN: 9781558442979
Category : Land value taxation
Languages : en
Pages : 0
Book Description
State and local governments in this country have adopted a number of policies to regulate the conversion of rural land to developed uses. One of the most significant and least understood is preferential assessment of rural land under the real property tax, often called use-value assessment (UVA) or current-use assessment. This book explains and analyzes the critical questions raised by this fiscal tool for farmland preservation. Under UVA, the assessments of various parcels of land within a given state may vary tremendously from property to property. A tract that is zoned residential with access to a turnpike might be assessed at $7,865 per acre. In the very same neighborhood, though, an even larger tract of vacant land might be assessed at a mere $127 per acre, which is far below the market value. How can there be such dramatic differences in the assessment of land values within the same community or neighborhood? Has the town assessor failed to treat property owners fairly and equally, as required by state law? Not at all. Nearly all states across the country permit, and even require, local assessors to value some parcels of undeveloped land far below their fair market values for the purpose of levying local property taxes. Despite their stated purpose of preserving rural lands from urban development, UVA programs can have unintended negative consequences. One is erosion of the legal and constitutional principle of uniformity of taxation; another is shifting of the local tax burden to other property owners, perhaps in a regressive manner. Occasionally UVA programs generate political controversy and even legislative action concerning "fake farmers" who enjoy low property tax bills, but whose land might only be used to sell firewood or Christmas trees to a few friends and neighbors. This volume explains the origins, key features, impacts, and flaws of use-value assessment programs across the United States. It describes in detail the process and characteristics of UVA programs in 44 states and recommends reforms. This book serves as a road map for public officials, scholars, and journalists concerned with agricultural taxation and land use issues.
Valuation of Property
Author: National Education Association of the United States. Research Division
Publisher:
ISBN:
Category : Education
Languages : en
Pages : 42
Book Description
Publisher:
ISBN:
Category : Education
Languages : en
Pages : 42
Book Description
Property Assessment Ratio Studies
Author: United States. Bureau of the Census
Publisher:
ISBN:
Category : Property tax
Languages : en
Pages : 24
Book Description
Publisher:
ISBN:
Category : Property tax
Languages : en
Pages : 24
Book Description
Property Assessment
Author:
Publisher:
ISBN:
Category : Property tax
Languages : en
Pages : 8
Book Description
While assessments are fundamental to Wisconsin's property tax system, most property owners know little about them even though they can impact their property tax bill. Property revalations do not necessarily mean tax increases, but can lead to a shifting of the tax. Property tax bills are also affected by changes in equalized values, or state estimates of the current fair market value of taxable property.
Publisher:
ISBN:
Category : Property tax
Languages : en
Pages : 8
Book Description
While assessments are fundamental to Wisconsin's property tax system, most property owners know little about them even though they can impact their property tax bill. Property revalations do not necessarily mean tax increases, but can lead to a shifting of the tax. Property tax bills are also affected by changes in equalized values, or state estimates of the current fair market value of taxable property.
Statistical Report of Property Assessment and Taxation
Author: Kansas. Division of Property Valuation
Publisher:
ISBN:
Category : Real property
Languages : en
Pages : 156
Book Description
Publisher:
ISBN:
Category : Real property
Languages : en
Pages : 156
Book Description
Trends in Assessed Valuations and Sales Ratios, 1956-1966
Author: United States. Bureau of the Census
Publisher:
ISBN:
Category : Property tax
Languages : en
Pages : 24
Book Description
Publisher:
ISBN:
Category : Property tax
Languages : en
Pages : 24
Book Description
The Valuation of Hotels and Motels
Author: Stephen Rushmore
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 138
Book Description
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 138
Book Description
Property Valuation Report
Author:
Publisher:
ISBN:
Category : Property tax
Languages : en
Pages : 88
Book Description
Publisher:
ISBN:
Category : Property tax
Languages : en
Pages : 88
Book Description
Market Values and Assessed Valuations of Taxable Real Property
Author: Pennsylvania. State Tax Equalization Board
Publisher:
ISBN:
Category : Education
Languages : en
Pages : 234
Book Description
Publisher:
ISBN:
Category : Education
Languages : en
Pages : 234
Book Description
Valuation of Real Estate for Ad Valorem Tax Purpose
Author: Walter R. Kuehnle
Publisher:
ISBN:
Category : Land use
Languages : en
Pages : 84
Book Description
Publisher:
ISBN:
Category : Land use
Languages : en
Pages : 84
Book Description