PROPERTY VALUE ASSESSMENT GROWTH LIMITS AND REDISTRIBUTION OF PROPERTY TAX PAYMENTS: EVIDENCE FROM MICHIGAN

Autor:	Charles L. Ballard, Mark Skidmore, Timothy R. Hodge
Rok vydání:	2010
Předmět:	Economics and Econometrics Double taxation Property tax Public economics Monetary economics Tax reform Value-added tax Tax credit Ad valorem tax Accounting State income tax Economics Finance Indirect tax
Zdroj:	National Tax Journal. 63:509-537
ISSN:	1944-7477 0028-0283
DOI:	10.17310/ntj.2010.3.05
Popis:	We examine the change in the distribution of property tax payments resulting from Michigan’s imposition of a property tax assessment growth cap in 1994. The cap restricts growth in property value for tax purposes to the infl ation rate, for those maintaining continuous ownership. Upon sale, however, the tax base is adjusted to refl ect market value. Using data from a survey conducted in 2008, we fi nd that long-time homeowners enjoy an average reduction in effective tax rates (relative to new homeowners) of 19 percent. The cap also appears to have reduced effective property tax rates for older homeowners, and for those with higher incomes.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_dedup___::17bc43728d53f28523ecdc5510531dda https://doi.org/10.17310/ntj.2010.3.05 Zobrazit plný text záznamu Plný text ve formátu PDF