By Amy Ellen Schwartz
An illustrious crew of economists give a contribution to this quantity honoring Dick Netzer, the general public finance economist recognized for his study on kingdom and native taxation, the availability of city public companies, and non-profit firms. Following in his culture, the individuals practice microeconomics to genuine global difficulties dealing with city components and use statistical research to achieve perception into functional options. the 1st 4 chapters of the booklet supply in-depth explorations of other tools of financing city executive reminiscent of: the relative advantages of source of revenue and estate taxation on the neighborhood point, the influence of revenues and source of revenue taxation on estate taxation, and the feasibility of adopting a land price tax. the following chapters concentrate on executive costs: the influence of backed housing funding on estate values, and the theoretical and historic factors for public possession and direct provision of public companies. the ultimate chapters of the publication flip their realization to the non-profit zone, exploring subsidies to non-profit arts agencies and the function of the non-profit area in delivering K-12 schooling, in particular addressing the results for segregation and fairness. entire and fascinating, execs 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
It is unclear whether in recent years increased frequency of assessment and higher quality assessments have eliminated this kind of assessment bias. 3. As local income taxes are used in relatively few states, the discussion here about the incidence of the income tax will be based on data from state income tax systems. 4. Examples of tax incidence studies using longitudinal data are Fullerton and Rogers (1991, 1993) and Lyon and Schwab (1995). Poterba (1989) also uses annual expenditures as a proxy for lifetime income.
For one, it eliminates any distortions associated with the taxation of capital. Although this issue goes beyond the scope of our chapter, it is an appropriate matter to raise in closing, for it has been of longstanding interest to Dick Netzer (for example, 1998). NOTES 1. 2. 3. A third signiﬁcant source of local tax revenues is the sales tax. But this can hardly be the basic source of taxation for local government. Indeed, many local governments encompass what are strictly residential areas; they have a zero sales tax base.
The McIntyre et al. study uses tax and income data for 2002. Starting with Milton Friedman (1957), a number of economists have argued that it is inappropriate to determine tax incidence on the basis of annual data. Their argument is that, if most people with low incomes are only temporarily poor, and if consumption decisions are generally made on the basis of lifetime incomes, then calculating tax burdens based on data from a single year will yield tax burdens for low-income people that are substantially higher than burdens calculated on the basis of lifetime or permanent income.
City Taxes, City Spending: Essays in Honor of Dick Netzer by Amy Ellen Schwartz