Property Taxes and Tax Revolts: The Legacy of Proposition 13

Property Taxes and Tax Revolts: The Legacy of Proposition 13

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

ISBN-10: 0521035996

ISBN-13: 9780521035996

Pub. Date: 05/31/2007

Publisher: Cambridge University Press

Property tax revolts have been a much-publicized feature of contemporary political life in the United States and abroad. Focusing on California's experience with Proposition 13, which has had potentially far-reaching political ramifications yet whose effects and possible alternatives have been little understood, this book examines the causes and consequences of…  See more details below

Overview

Property tax revolts have been a much-publicized feature of contemporary political life in the United States and abroad. Focusing on California's experience with Proposition 13, which has had potentially far-reaching political ramifications yet whose effects and possible alternatives have been little understood, this book examines the causes and consequences of property tax revolts. The authors begin by discussing the origins of four different historical episodes with property tax revolts and the nature of property tax systems throughout the world. They then examine the consequences of property tax limitations with a detailed analysis of the acquisition-value tax system passage of Proposition 13 established. New theoretical approaches and new evidence from a comprehensive empirical study are brought to bear on the California experience in order to highlight the key aspects of equity and efficiency of the property tax system. Since property taxes are the primary source of revenue for local governments, the authors compare and contrast the experiences of Massachusetts and California with regard to the evolution of local government following property tax limitations. Finally, the book considers alternatives for reform and lessons to avoid future property tax revolts.

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Product Details

ISBN-13:
9780521035996
Publisher:
Cambridge University Press
Publication date:
05/31/2007
Edition description:
New Edition
Pages:
172
Product dimensions:
5.98(w) x 8.98(h) x 0.39(d)

Table of Contents

List of tables, figures, and boxes
Preface
1The context and significance of tax revolts1
2The diversity of property tax systems15
3The simple analytics of an acquisition-value tax system39
4Measuring the disparities55
5Incidence, mobility, ownership, and capitalization71
6Tax limitation and local government94
7Revenue projections and policy alternatives121
8The future of the property tax136
Notes146
References151
Index155

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