A Primer on Property Tax

'The chapters in this book explore in detail the choices regarding both the structure and administration of the property tax, drawing on the extensive knowledge the authors have acquired in studying property taxes around the world. The chapters provide a wide-ranging treatment of the design choices and administrative tasks, both in terms of the breadth of design options and administrative tasks covered and the depth of the discussion. The authors describe the range of design choices, discuss the associated issues and the advantages and disadvantages for each, and present the criteria to help choose among the options. From the book s Foreword by David L. Sjoquist, Professor of Economics and Dan E. Sweat Scholar Chair in Educational and Community Policy, Georgia State University Property taxation is a key element in providing a solid foundation and a stable funding source for basic public services. Developing and implementing a property tax system is a complex task. This complexity is compounded by the diversity of legal, cultural and historical contexts of policymakers and tax administrators. The World Development Report (1999-2000), Entering the 21st Century puts fiscal decentralization at the top of the development agenda. This makes local taxation - and especially the property tax option - of critical importance to both tax and land policy, as well as the broader development agenda. A Primer on Property Tax: Administration and Policy provides the reader with an analysis of issues surrounding property tax, including economics, law, public finance, decentralisation, valuation, GIS and property tax reform. A key strength of the book lies in the vast international experience of the authors and the book will provide for the first time material which is topical, cutting-edge and highly relevant to many of the disciplines involved in property taxation. The authors examine the criteria applied to evaluate the strengths and weaknesses of property tax, discuss the main valuation methods and the economic principles underpinning them and review the legal and administrative aspects of property tax worldwide.

'The chapters in this book explore in detail the choicesregarding both the structure and administration of the propertytax, drawing on the extensive knowledge the authors have acquiredin studying property taxes around the world. The chapters provide awide-ranging treatment of the design choices and administrativetasks, both in terms of the breadth of design options andadministrative tasks covered and the depth of the discussion.The authors describe the range of design choices, discuss theassociated issues and the advantages and disadvantages for eachand present the criteria to help choose among theoptions.'From the book's Foreword by David L. Sjoquist, Professorof Economics and Dan E. Sweat Scholar Chair in Educational andCommunity Policy, Georgia State UniversityProperty taxation is a key element in providing a solidfoundation and a stable funding source for basic publicservices.Developing and implementing a property tax system is a complextask. This complexity is compounded by the diversity of legalcultural and historical contexts of policymakers and taxadministrators. The World Development Report (1999-2000)Entering the 21st Century puts fiscal decentralization atthe top of the development agenda. This makes local taxation - andespecially the property tax option - of critical importance to bothtax and land policy, as well as the broader development agenda.A Primer on Property Tax: Administration and Policyprovides the reader with an analysis of issues surrounding propertytax, including economics, law, public finance, decentralisationvaluation, GIS and property tax reform. A key strength of the booklies in the vast international experience of the authors and thebook will provide for the first time material which is topicalcutting-edge and highly relevant to many of the disciplinesinvolved in property taxation.The authors examine the criteria applied to evaluate thestrengths and weaknesses of property tax, discuss the mainvaluation methods and the economic principles underpinning them andreview the legal and administrative aspects of property taxworldwide.

Part 1: Context and objectives; Overview and introduction; Normative criteria for evaluating a tax; Legal and cultural issues in property tax administration; Part 2: Base times rate; Defining the base; Assessing revenue potential; Non-market approaches to valuing the base; Market-based approaches to valuing the base; Rate setting; Administrative policy; Administrative practice; Billing and collection; Appeals, penalties and sanctions; Part 4: The property tax as a policy tool; Exemptions; Irregular housing; Land leasing; Economic development; The politics of the property tax; Part 5: Summing up; Property tax reform efforts and sustainability; The future of the property tax; Appendices One. Maps, GIS and cadastre; Two. CAMA (Computer Assisted Mass Appraisal; Three. Communication skills and strategies; Annotated list for further reading References Glossary Index; References; Glossary; Index INTERNATIONAL PROPERTY TAXATION