Property Taxes and Tax Revolts: The Legacy of Proposition 13 by Arthur O'Sullivan, Terri A. Sexton, Steven M. Sheffrin

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By Arthur O'Sullivan, Terri A. Sexton, Steven M. Sheffrin

Estate tax revolts have happened either within the usa and in a foreign country. This ebook examines the factors and effects of estate tax revolts, concentrating on California's adventure with Proposition thirteen. New theoretical techniques and facts from a accomplished empirical examine are used to spotlight the fairness and potency of estate tax platforms. for the reason that estate taxes are neighborhood government's major profit resource, the e-book incorporates a comparative examine of the evolution of neighborhood govt following estate tax boundaries in numerous states. eventually, the e-book considers choices for reform and classes to prevent destiny revolts.

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46 The most common feature of all these property tax systems is the list of properties that are exempt from taxation. In all countries exemptions are given to government properties including embassies, schools, hospitals, churches, charitable institutions, and cemeteries. Agricultural land is fully exempt in the Netherlands and Northern Ireland and given preferential treatment in most other countries. An exemption for low-valued properties is available in some countries. 47 Tax rates are usually set by local governments on the basis of budgetary needs and the level of services provided.

The most common form of property tax in cities of former French colonies is a mixed system under which land is assessed on the basis of capital value, and improvements are assessed on an annual-value basis. Mexico levies both an annual- and a capital-value tax, and both Thailand and Turkey use a mixed system. Still other countries levy property taxes on the basis of area. In some Nigerian states, in order to reduce administrative costs, a flat fee is charged per building; the fee varies according to the type of building, or a fee is charged per room.

For this reason, in this book we treat the rate of inflation for property as exogenous, that is, as external to the property tax system; as a result, we will not study its determinants in detail. In the course of our work documenting the disparities that have arisen since the passage of Proposition 13, we will, in the next chapter, provide measures of the rate of increase in property values for different types and sizes of property in California since the passage of Proposition 13. This chapter concentrates on the process of turnover or sale of existing property, the other essential component in an acquisition-value tax system.

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