A Good Tax: Legal and Policy Issues for the Property Tax in the United States

Synopsis

The Property Tax Has Great Strengths, Particularly As An Independent Source Of Nearly Half Of All General Revenue For Local Governments. However, It Is Undermined By Inaccurate Valuations, Preferences That Reduce The Tax Base And Raise Tax Rates, And Exaggerated Rhetorical Attacks. Addressing This Situation Requires Attention To Policy, Administration, And Communication. Tax Expert Joan Youngman Skillfully Considers How To Improve The Operation Of The Tax And Supply The Information Missing In Public Debate. The Author Analyzes The Legal, Administrative, And Political Challenges To The Property Tax In The United States And Offers Recommendations For Its Improvement. The Book Is Accessibly Written For Policy Analysts And Public Officials Who Are Dealing With Specific Property Tax Issues And For Those Concerned With Property Tax Issues In General. The Property Tax As A Good Tax -- The Nature Of Property Tax. Progressivity, Regressivity, And Fairness -- Values And Valuation -- Special Uses Of Tax Proceeds. Property Taxes And School Finance -- Tax Increment Financing -- Special Treatment Of Specific Properties. Classification And Differential Taxation -- Open Space And Conservation Easements -- Farmland Assessment And Current Use Valuation -- The Valuation Of Federally Subsidized Low-income Housing -- Exemptions And Payments In Lieu Of Taxes -- Tax Limitations And Market Value Assessment. Tax Restrictions And Assessment Limits -- Tax Limitations And Accurate Assessments : The Massachusetts Experience. Joan Youngman. Includes Bibliographical References And Index.