Improving the Administration ofPAUL V. CORUSYThe property tax, which generated over $82 billion in 1982, is the
single greatest source of local revenue. That is why good assessment administration must be the rule rather than the exception. Property-tax administration and
assessments are a source of many local political and fiscal problems. Inequitable
assessments generate taxpayer objection. Fiscal management is affected by inequitable assessments. Shifts in the share of the property taxes borne by homeowners, industry, business, and farmers following infrequent reassessments
generate taxpayer unrest. As a result, reforming real-property assessment practices can help avoid or resolve these controversies.There is a link between a local government's fiscal health and accurate real‐
property assessments. Accurate, up-to-date assessments can strengthen the
fiscal health of local government by accomplishing the following goals:
the Property Tax
|• ||Provide maximum property-tax revenues. Poor assessment practices would
generate less revenue.|
|• ||Allow for increased borrowing capacity. Poor assessment practice would
reduce the total tax base, which would reduce the borrowing potential of a local
|• ||Provide for the proper amount of intergovernmental aid. Poor assessment
practice would deny local government its fair share of intergovernmental aid.
It is therefore in the best interest of local government that proper assessment and
administration be practiced, if the fiscal goals of local government are to be met.|
Each state has its own property-tax statutes, and without exception these
statutes require the equitable distribution of the property-tax load. A market‐
value standard is the usual basis for valuation, but unfortunately many of the____________________
Questia, a part of Gale, Cengage Learning. www.questia.com
Book title: The Property Tax and Local Finance.
Contributors: C. Lowell Harriss - Editor.
Publisher: Academy of Political Science.
Place of publication: New York.
Publication year: 1983.
Page number: *.
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