Property Taxes and Tax Revolts: The Legacy of Proposition 13

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

• ISBN13: 9780521035996
• ISBN10: 0521035996
• Format: Paperback
• Copyright: 2007-05-31
• Publisher: Cambridge University Press

Summary

Property tax revolts have occurred both in the United States and elsewhere. This book examines the causes and consequences of such revolts with a special focus on the California experience with Proposition 13. The work examines the consequences of property tax limitations for public finance with a detailed analysis of the tax system put into place in California. Theoretical approaches and evidence from a comprehensive empirical study are used to highlight the equity and efficiency of property tax systems. Since property taxes are the primary source of revenue for local governments, the book compares and contrasts the experiences of several states with regard to the evolution of local government following property tax limitations. Finally, the book considers alternatives for reform and lessons to avoid future tax conflicts of this kind.

Table of Contents

List of tables, figures and boxes

Preface

The context and significance of tax revolts

The diversity of property tax systems

The simple analytics of an acquisition-value tax system

Measuring the disparities

Incidence, mobility, ownership and capitalization

Tax limitation and local government

Revenue projections and policy alternatives

The future of the property tax

Notes

References

Index

Table of Contents provided by Publisher. All Rights Reserved.