Urban Planning Development

Assessing the Theory and Practice of Land Value Taxation by Richard F. Dye, Richard W. England

By Richard F. Dye, Richard W. England

The land price tax is the point of interest of this coverage concentration file, Assessing the idea and perform of Land worth Taxation. an idea relationship again to Henry George, the land worth tax is a version of the valuables tax that imposes a better tax cost on land than on advancements, or taxes merely the land price. Many different sorts of alterations in estate tax coverage, comparable to evaluate freezes or barriers, have bad unwanted side effects, together with unequal therapy of equally located taxpayers and distortion of monetary incentives. The land price tax can improve either the equity and the potency of estate tax assortment, with few bad results; land is successfully in mounted offer, so a rise within the tax expense on land price will elevate profit with out distorting the incentives for vendors to speculate in and use their land. A land worth tax has additionally been noticeable with the intention to strive against city sprawl through encouraging density and infill development.

Authors Richard F. Dye and Richard W. England research the adventure of these who've carried out the land worth tax -- greater than 30 nations world wide, and within the usa, a number of municipalities relationship again to 1913, while the Pennsylvania legislature accredited Pittsburgh and Scranton to tax land values at the next expense than construction values. A 1951 statute gave smaller Pennsylvania towns an analogous choice to enact a two-rate estate tax, a edition of the land price tax. approximately 15 groups at present use this kind of tax application, whereas others attempted and rescinded it. Hawaii additionally has event with two-rate taxation, and Virginia and Connecticut have approved municipalities to decide on a two-rate estate tax.

The land price tax has been subjected to reports evaluating jurisdictions with and with out it, and to criminal demanding situations. A land worth tax additionally increases administrative matters, quite within the sector of estate tax tests. Land price taxation is an enticing substitute to the normal estate tax, specially to even more frustrating different types of estate tax measures resembling evaluate obstacles, the authors finish. A land worth tax is healthier carried out if neighborhood officers use top assessing practices to maintain land and development values modern; section in twin tax premiums over a number of years; and comprise a tax credits function in these groups the place land-rich yet income-poor voters may well be afflicted by land worth taxation.

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Additional info for Assessing the Theory and Practice of Land Value Taxation

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In Land value taxation: Theory, evidence, and practice, Dye and England, eds. Plassmann, Florenz, and T. Nicolaus Tideman. 2000. A Markov chain Monte Carlo analysis of the effect of two-rate property taxes on construction. Journal of Urban Economics 47(2): 216–247. * Plummer, Elizabeth. 2009. Fairness and distributional issues with land value taxation. In Land value taxation: Theory, evidence, and practice, Dye and England, eds. State of Connecticut. 2009. Public act no. 09-236: An act establishing a land value taxation pilot program.

Anderson, Nathan B. 2006. Property tax limitations: An interpretative review. National Tax Journal 59: 685–694. , Michael E. Bell, David Brunori, and Joan M. Youngman. 2009. Erosion of the property tax base: Trends, causes, and consequences. Cambridge, MA: Lincoln Institute of Land Policy. , John H. Bowman, and Jerome C. German. 2009. The assessment requirements for a separate tax on land. In Land value taxation: Theory, evidence, and practice, Dye and England, eds. Bird, Richard M. and Enid Slack.

Plummer, Elizabeth. 2009. Fairness and distributional issues with land value taxation. In Land value taxation: Theory, evidence, and practice, Dye and England, eds. State of Connecticut. 2009. Public act no. 09-236: An act establishing a land value taxation pilot program. PDF. Vickrey, William. 1999. Simplification, progression, and a level playing field. C. Wenzer, ed. E. Sharpe. * References noted with an asterisk are chapters from the Lincoln Institute book Land value taxation: Theory, evidence, and practice, Dye and England, eds.

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