Download or read book Rethinking Property Tax Incentives for Business written by Daphne A. Kenyon and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The use of property tax incentives for business by local governments throughout the United States has escalated over the last 50 years. While there is little evidence that these tax incentives are an effective instrument to promote economic development, they cost state and local governments $5 to $10 billion each year in forgone revenue. Three major obstacles can impede the success of property tax incentives as an economic development tool. First, incentives are unlikely to have a significant impact on a firm's profitability since property taxes are a small part of the total costs for most businesses--averaging much less than 1 percent of total costs for the U.S. manufacturing sector. Second, tax breaks are sometimes given to businesses that would have chosen the same location even without the incentives. When this happens, property tax incentives merely deplete the tax base without promoting economic development. Third, widespread use of incentives within a metropolitan area reduces their effectiveness, because when firms can obtain similar tax breaks in most jurisdictions, incentives are less likely to affect business location decisions. This report reviews five types of property tax incentives and examines their characteristics, costs, and effectiveness: property tax abatement programs; tax increment finance; enterprise zones; firm-specific property tax incentives; and property tax exemptions in connection with issuance of industrial development bonds. Alternatives to tax incentives should be considered by policy makers, such as customized job training, labor market intermediaries, and business support services. State and local governments also can pursue a policy of broad-based taxes with low tax rates or adopt split-rate property taxation with lower taxes on buildings than land.State policy makers are in a good position to increase the effectiveness of property tax incentives since they control how local governments use them. For example, states can restrict the use of incentives to certain geographic areas or certain types of facilities; publish information on the use of property tax incentives; conduct studies on their effectiveness; and reduce destructive local tax competition by not reimbursing local governments for revenue they forgo when they award property tax incentives.Local government officials can make wiser use of property tax incentives for business and avoid such incentives when their costs exceed their benefits. Localities should set clear criteria for the types of projects eligible for incentives; limit tax breaks to mobile facilities that export goods or services out of the region; involve tax administrators and other stakeholders in decisions to grant incentives; cooperate on economic development with other jurisdictions in the area; and be clear from the outset that not all businesses that ask for an incentive will receive one.Despite a generally poor record in promoting economic development, property tax incentives continue to be used. The goal is laudable: attracting new businesses to a jurisdiction can increase income or employment, expand the tax base, and revitalize distressed urban areas. In a best case scenario, attracting a large facility can increase worker productivity and draw related firms to the area, creating a positive feedback loop. This report offers recommendations to improve the odds of achieving these economic development goals.

Download or read book A Good Tax written by Joan Youngman and published by . This book was released on 2016 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: In A Good Tax, tax expert Joan Youngman skillfully considers how to improve the operation of the property tax and supply the information that is often missing in public debate. She 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.

Download or read book Public Financial Management written by Howard A. Frank and published by CRC Press. This book was released on 2006-01-13 with total page 836 pages. Available in PDF, EPUB and Kindle. Book excerpt: Public Financial Management covers the five major pillars of this sub-discipline of public administration: context, public finance, retirement systems, performance measurement and budgeting, and international perspectives. This text offers practitioners information valuable in their day-to-day operations, while also providing students in public adm

Download or read book The Collection Process income Tax Accounts written by United States. Internal Revenue Service and published by . This book was released on 1978 with total page 4 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Best Practices for Effecting the Rehabilitation of Affordable Housing written by David Listokin and published by . This book was released on 2006 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Best Practices For Effecting The Rehabilitation of Affordable Housing Volume 1 Framework and Findings June 2005 written by and published by . This book was released on 2006 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Improving Tax Increment Financing TIF for Economic Development written by David Merriman and published by . This book was released on 2018-09-05 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economist David Merriman of the University of Illinois at Chicago reviews more than 30 individual studies in the most comprehensive assessment of tax increment financing (TIF) with practical recommendations for policy makers and practitioners. The report finds that while TIF has the potential to draw investment into neglected places, it has not accomplished the goal of promoting economic development in most cases. First implemented in the 1950s, TIF funds economic development within a defined district by earmarking increases in future property tax revenues that result from increases in real estate values in the district. The tax revenue can be used for public infrastructure or to compensate private developers for their investments, but TIF is prone to several pitfalls: it often captures some revenues that would have been generated through normal appreciation in property values, it can be exploited by cities to obtain revenues that would otherwise go to overlying government entities such as school districts, and it can make cities' financial decisions less transparent by separating them from the normal budget process. The report recommends several ways that state and local policy makers can reform TIF practices going forward.

Download or read book Making Sense of Incentives written by Timothy J. Bartik and published by W.E. Upjohn Institute. This book was released on 2019-10-15 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bartik provides a clear and concise overview of how state and local governments employ economic development incentives in order to lure companies to set up shop—and provide new jobs—in needy local labor markets. He shows that many such incentive offers are wasteful and he provides guidance, based on decades of research, on how to improve these programs.

Download or read book State Data and Database Finder written by Matthew Lesko and published by . This book was released on 1989 with total page 550 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book West s Annotated Indiana Code written by Indiana and published by . This book was released on 2005 with total page 484 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Rebirth of the American City written by United States. Congress. House. Committee on Banking, Currency, and Housing and published by . This book was released on 1976 with total page 1616 pages. Available in PDF, EPUB and Kindle. Book excerpt: Record is based on bibliographic data in ProQuest Congressional Hearings Digital Collection. Reuse except for individual research requires license from ProQuest, LLC. Includes bibliographical references. Access is available to the Yale community.

Download or read book Significant Features of Fiscal Federalism written by United States. Advisory Commission on Intergovernmental Relations and published by . This book was released on 1994 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Internal Revenue Acts of the United States 1909 1950 written by Bernard D. Reams (Jr.) and published by . This book was released on 1979 with total page 1464 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Investigation of Bureau of Internal Revenue written by United States. Congress. Senate. Select committee on Bureau of internal revenue and published by . This book was released on 1925 with total page 1132 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Investigation of Bureau of Internal Revenue written by United States. Congress. Senate. Select Committee on Investigation of the Bureau of Internal Revenue and published by . This book was released on 1925 with total page 1446 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Renewable Energy Landscape written by Dean Apostol and published by Routledge. This book was released on 2016-08-19 with total page 411 pages. Available in PDF, EPUB and Kindle. Book excerpt: Winner of the 2017 EDRA Great Places Award (Research Category) Winner of the 2017 VT ASLA Chapter Award of Excellence (Communications Category) The Renewable Energy Landscape is a definitive guide to understanding, assessing, avoiding, and minimizing scenic impacts as we transition to a more renewable energy future. It focuses attention, for the first time, on the unique challenges solar, wind, and geothermal energy will create for landscape protection, planning, design, and management. Topics addressed include: Policies aimed at managing scenic impacts from renewable energy development and their social acceptance within North America, Europe and Australia Visual characteristics of energy facilities, including the design and planning techniques for avoiding or mitigating impacts or improving visual fit Methods of assessing visual impacts or energy projects and the best practices for creating and using visual simulations Policy recommendations for political and regulatory bodies. A comprehensive and practical book, The Renewable Energy Landscape is an essential resource for those engaged in planning, designing, or regulating the impacts of these new, critical energy sources, as well as a resource for communities that may be facing the prospect of development in their local landscape.

Download or read book Encyclopedia of Chemical Processing and Design written by John J. McKetta Jr and published by CRC Press. This book was released on 1994-11-21 with total page 490 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Written by engineers for engineers (with over 150 International Editorial Advisory Board members),this highly lauded resource provides up-to-the-minute information on the chemical processes, methods, practices, products, and standards in the chemical, and related, industries. "