The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Property Taxation

  • George R. Zodrow
Reference work entry
DOI: https://doi.org/10.1057/978-1-349-95189-5_1517

Abstract

Property taxation of both residential and non-residential land and structures is the most common form of wealth taxation worldwide, and is often the revenue instrument of choice for local governments. Despite widespread use of the property tax and a voluminous academic literature examining the tax, its incidence and economic effects are still contentious issues, with the debate centring around whether the capital portion of the tax should be viewed as distorting the allocation of capital or as an efficient benefit tax or user charge for local public services.

Keywords

Assessment process Benefit tax Capital tax Capitalization Efficient allocation Equity Excise tax Fiscal differential Fiscal equalization George, H. General equilibrium Harberger, A.C. Hamilton, B.W. Head tax Housing market Interurisdictional competition Land tax Land use zoning Local government Local public finance Mieszkowski, P. Partial equilibrium Profits tax Progressive and regressive taxation Property taxation Property tax limitations Returns to capital Tax incidence Tiebout, C. Tiebout model Underprovision of public services User fees 

JEL Classifications

H2 H3 H4 H7 
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Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • George R. Zodrow
    • 1
  1. 1.