By William J. McCluskey, Gary C. Cornia, Lawrence C. Walters
'The chapters during this ebook discover intimately the alternatives relating to either the constitution and management of the valuables tax, drawing at the large wisdom the authors have bought in learning estate taxes world wide. The chapters offer a wide-ranging remedy of the layout offerings and administrative initiatives, either when it comes to the breadth of layout strategies and administrative initiatives coated and the intensity of the discussion. The authors describe the variety of layout offerings, speak about the linked concerns and the benefits and drawbacks for every, and current the standards to aid decide upon one of the options.’
From the book’s Foreword by way of David L. Sjoquist, Professor of Economics and Dan E. Sweat student Chair in academic and group coverage, Georgia kingdom University
Property taxation is a key point in supplying a high-quality origin and a strong investment resource for simple public services.
Developing and enforcing a estate tax method is a posh job. This complexity is compounded by means of the variety of criminal, cultural and ancient contexts of policymakers and tax directors. the realm improvement document (1999-2000), Entering the twenty first Century places economic decentralization on the best of the advance schedule. This makes neighborhood taxation - and particularly the valuables tax alternative - of serious value to either tax and land coverage, in addition to the wider improvement agenda.
A Primer on estate Tax: management and Policy presents the reader with an research of concerns surrounding estate tax, together with economics, legislations, public finance, decentralisation, valuation, GIS and estate tax reform. A key power of the publication lies within the gigantic overseas adventure of the authors and the ebook will offer for the 1st time fabric that is topical, state of the art and hugely correct to the various disciplines all in favour of estate taxation.
The authors study the factors utilized to guage the strengths and weaknesses of estate tax, talk about the most valuation equipment and the industrial rules underpinning them and evaluate the felony and administrative facets of estate tax worldwide.
Chapter 1 estate Tax (pages 1–40): Harry Kitchen
Chapter 2 Value?Based techniques to estate Taxation (pages 41–68): Riel Franzsen and William J. McCluskey
Chapter three The Politics of the valuables Tax (pages 69–88): Enid Slack
Chapter four management of neighborhood Taxes (pages 89–124): John L. Mikesell
Chapter five constructing a Tax cost (pages 125–139): Kurt Zorn
Chapter 6 estate Tax assortment and Enforcement (pages 141–171): Roy Kelly
Chapter 7 The Tax each person likes to Hate (pages 173–186): Jay ok. Rosengard
Chapter eight felony concerns in estate Tax management (pages 187–205): Frances Plimmer
Chapter nine Tax standards (pages 207–227): Gary C. Cornia
Chapter 10 Estimating estate Tax profit strength (pages 229–247): Lawrence C. Walters
Chapter eleven Taxing Public Leasehold Land in Transition international locations (pages 249–264): Yu?Hung Hong
Chapter 12 estate Tax and casual estate (pages 265–286): Martim Smolka and Claudia M. De Cesare
Chapter thirteen Non?Market worth and Hybrid ways to estate Taxation (pages 287–305): William J. McCluskey and Riel Franzsen
Chapter 14 machine Assisted Mass Appraisal And the valuables Tax (pages 307–338): William J. McCluskey, Peadar Davis, Michael McCord, David McIlhatton and Martin Haran
Chapter 15 Geographic details platforms and the significance of place (pages 339–357): David McIlhatton, Michael McCord, Peadar Davis and Martin Haran
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Additional info for A Primer on Property Tax: Administration and Policy
The tax, which must be paid before the transfer is registered, is like a sales tax payable by the purchaser and is calculated as a percentage of the purchase price. A number of variations on land transfer taxes exist. For example, the tax rate sometimes increases with the value of the property; in some cases, taxes are higher on non-residents. Since this tax bears no relationship to the benefits received for local services, it imposes a burden on those who buy property, while placing no burden on those who remain in their existing property.
Concern over the kinds of distortions noted above with the property tax on commercial and industrial properties has prompted at least one suggestion for reform in Canada (Bird and Mintz, 2000; Bird and Slack, 2004b; Bird and Wilson, 2003). Specifically, it has been argued that revenues from a portion of the non-residential property tax should be replaced with revenues from a new business value tax (BVT). This BVT would be a value-added tax. It would be levied on business income. It would be on production and not consumption.
Lower assessment rates are often used to provide special treatment for farmland. This ranges from assessing farmland at its value as a farm rather than its value as land for other purposes (Canada, Japan and Mexico), to taxing farmland at lower rates (Colombia, India and Thailand), to exempting farm land from taxation (United Kingdom, Nicaragua, Guinea, South Africa, Tanzania and Tunisia), and a variety of other measures (Bird and Slack, 2004a). a. a. No revaluations on residential; 5 years for non-residential Different in each state; ranges from annual to 7 years Different in different provinces By law, every 6 years (actually use price adjusted 1964 values) Every 3 years; annuxxally for business assets Frequency of reassessment Latin America Argentina Russia Ukraine Central and eastern Europe Hungary Latvia Poland Local governments Central government Local governments (using information in central registry) Central government Central government – state tax admin.