By Amy Ellen Schwartz
An illustrious staff of economists give a contribution to this quantity honoring Dick Netzer, the general public finance economist famous for his examine on kingdom and native taxation, the availability of city public prone, and non-profit firms. Following in his culture, the individuals observe microeconomics to actual international difficulties dealing with city components and use statistical research to realize perception into sensible recommendations. the 1st 4 chapters of the publication supply in-depth explorations of other tools of financing city executive similar to: the relative advantages of source of revenue and estate taxation on the neighborhood point, the effect of revenues and source of revenue taxation on estate taxation, and the feasibility of adopting a land price tax. the subsequent chapters specialise in govt costs: the effect of backed housing funding on estate values, and the theoretical and old reasons for public possession and direct provision of public prone. the ultimate chapters of the booklet flip their awareness to the non-profit region, exploring subsidies to non-profit arts organisations and the function of the non-profit region in delivering K-12 schooling, particularly addressing the results for segregation and fairness. complete and fascinating, pros and students within the fields of public finance, city economics and public management will locate this number of nice curiosity.
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Additional info for City Taxes, City Spending: Essays in Honor of Dick Netzer
3 Unfortunately there have been relatively few studies of the distribution of state and local tax burdens that have been national in scope. The wellknown studies by Joseph Pechman and his colleagues at the Brookings Institution (Pechman and Okner, 1974; Pechman, 1985) are now out of date. Of more recent vintage are a study by Gilbert Metcalf (1994) and a study by Robert McIntyre et al. (2003). These two studies are particularly interesting because they allow us to see the importance of assumptions about tax incidence and about the measurement of income.
The McIntyre et al. study shows that the residential property tax is modestly regressive, with the highest average burden found in the lowest income quintile. 5 Metcalf ﬁnds that the residential property tax is close to proportional, with the average burden in the bottom quintile only 6 per cent higher than the average burden in the fourth and ﬁfth quintiles. He demonstrates that his results are primarily attributable to his lifetime perspective. Even though he assumes that the entire incidence of the property tax falls on the owners of capital, when he calculates tax burdens based on annual incomes he ﬁnds that the tax is regressive above the third income decile.
The message from the table seems quite clear: property wealth is distributed much more unequally across districts than is income. 3. There are signiﬁcant diﬀerences in income across districts in all four states. Income per pupil in the richest districts in Texas, for example, is nearly ﬁve times as large as income per pupil in the poorest districts. In all four states, this ratio of income per pupil in the richest to the poorest districts is over three. But diﬀerences in property wealth per pupil are even larger than these diﬀerences in income.