The Property Tax and Local Finance

By C. Lowell Harriss | Go to book overview

The Property Tax in a Model
State-Local Revenue System

ROBERT J. CLINE

JOHN SHANNON

Just as beauty is in the eye of the beholder, the vision of a high‐ quality tax system is constantly being reshaped by changing social and political values. This truism is clearly underscored by tracing the changes in the emphasis that the Advisory Commission on Intergovernmental Relations (ACIR) has placed on significant characteristics of a high-quality state-local revenue system. 1 Over the past fifteen years, the ACIR has published a number of studies examining the significant features of state-local revenue systems. On the basis of this work, a "model" evolved for identifying the characteristics of a high-quality state-local tax system. The purpose of this essay is to reexamine these characteristics in light of the shift from a fast-growth to a slow-growth era of state-local finance. Table 1 provides a concise summary of the differences in the "old" view (1960s and early 1970s) and the "new" view (since late 1970s) of the characteristics of a high-quality state-local tax system.

In general, the earlier, fast-growth-era model focused attention on the characteristics necessary to guarantee a productive and equitable state-local tax system. It emphasized a balanced use of the "Big 3"—income, sales, and property taxes—and the adoption of various safeguards to insulate low-income taxpayers from excessive tax burdens. The combination of responsive tax bases and equity safeguards provided the means for policymakers to "maximize revenues while minimizing squawks."

This ACIR view of a high-quality tax system was the product of the "go-go," fast-growth era from 1960 to 1975. During this period, the state and local sector increased its share of gross national product from 9.8 to 15 percent. This rapid expansion was fueled by strong, real economic growth, demographic trends,

____________________
1
Robert J. Cline is senior public finance resident and John Shannon is assistant director, Advisory Commission on Intergovernmental Relations. While the policy recommendations set forth in this essay clearly reflect ACIR positions, the interpretations of these positions represent the views of the authors, not necessarily those of ACIR members.

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this book

This book has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this book

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited page

Bookmark this page
The Property Tax and Local Finance
Table of contents

Table of contents

Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
/ 242

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Author Advanced search

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.