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Land Gains, Fast Write-Off, and Incentives to Build

Once upon a time each building was written off from taxable income over something purporting to approximate its economic life. Then Congress and the industry began implementing the Commons variation of the George principle. They began shortening tax lives and steepening the gradient of depreciation paths. The light broke on most of us with the speed of a crepuscular Yukon sunrise, but . . . → Read More: Land Gains, Fast Write-Off, and Incentives to Build

Intergovernmental Competition for Energy Resources

Commissioner Dorgan is quite right that North Dakota, like other states, possesses a sovereign right to levy taxes in the manner of its choosing provided only that it does not discriminate against interstate commerce in a gross and overt way. I am only surprised that he feels a need to defend North Dakota’s use of its indisputable right. Anyone, . . . → Read More: Intergovernmental Competition for Energy Resources

Proposition 13: An Alternative Reform

What is the “message” of Proposition 1 3? Everyone was invoking it this past summer to fill his sails, but what was really blowing in the wind?
Howard Jarvis had been fighting property taxation for a score of years with minimal success. Philip Watson, until recently more prominent, led two property tax limitation initiatives to defeat. All these prior efforts were tax shifts, . . . → Read More: Proposition 13: An Alternative Reform

The Many Faces of Site-Value Taxation

There is a great interest stirring currently in Canada and elsewhere in tapping for the public revenues more of the economic rent of natural resources and/or the unearned increment of land values. “Economic rent”, not long ago a strange alien wording, has become common currency in Canadian discussion. Ontario has enacted a tax on increments of land value when realized by . . . → Read More: The Many Faces of Site-Value Taxation

Time, Taxes, Turnover and Intensity

A reply to comment by Henry Goldstein and Procter Thomson on my “Tax-induced Slow Turnover of Capital,” published in Western Economic J. WEJ editors returned it for shortening. Meantime Anthony Chisholm replied on my behalf, using some of this material. I have incorporated it into  to be polished . . . → Read More: Time, Taxes, Turnover and Intensity

An Agenda for Strengthening the Property Tax

I have four points: we do not need property tax relief; we do need assessment reform; we do need to shift the property tax in part to the stale level; and we do need to convert the general property tax into a tax on site vaiue.

“An Agenda for Strengthening the Property Tax.” In George Peterson (ed.), Property Tax Reform. . . . → Read More: An Agenda for Strengthening the Property Tax

The Property Tax is a Progressive Tax

“The regressive property tax” has become a common block phrase among economists and in the popular press. President Nixon’s support for revenue-sharing is increasingly based on the need to protect the poor from heavy property taxes. Some prominent tax economists are favoring even sales taxes to make the tax system more progressive, by lowering the property tax.’ Even local income taxes, . . . → Read More: The Property Tax is a Progressive Tax

What is Property Tax Reform?

CAN PROPERTY TAX REFORM help the propertyless, the working men and women who-labor-for-wage incomes—the majority of Americans? Property is owned by people of property—the rich. Ownership of this rich tax base is concentrated in a few hands, much more so than income. The top 10 per cent of income receivers in the United States receive something like 30 per cent of . . . → Read More: What is Property Tax Reform?

Adequacy of Land as a Tax Base

More economists than not believe that land rent has superior qualities as a tax base. Their failure to push harder for focusing more of the tax burden on land stems partly from a belief that “there is no money in it.” The following journalistic passage reflects this belief: “Authorization of the graded tax would be useless, however, unless the present freeze . . . → Read More: Adequacy of Land as a Tax Base

Coordinating Tax Incentive and Public Policy: The Treatment of Land Income

This paper is an effort to pull together a systematic outline of one set of accumulated tax outrages, those bearing on land. I follow press releases, and scholarly and treasury and commission and task force – releases on the subject witha growing impression of incompleteness, of a ..tendqncy to 6ettle on one or two points as the major abuses to . . . → Read More: Coordinating Tax Incentive and Public Policy: The Treatment of Land Income