REVENUE ESTIMATION AND STATE FISCAL MANAGEMENT

The concept of income elasticity of tax revenues has been used in numerous studies with little concern about its theoretical foundations. Income elasticities have also been used for revenue estimation with limited concern about stability over time or about the accuracy of the forecasts. This paper explores the development of the tax elasticity measure and, using revenue data from Washington, compares year-to-year elasticity measures with those established by regression analysis. The length of the time series is varied to check on the stability of the coefficients. Finally, the elasticities are used to predict revenues for three years to check on their accuracy for revenue estimation.

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Fiscal Management

Management of Animal Care and Use Programs in Research, Education, and Testing ◽

10.1201/9781315152189-13 ◽

2017 ◽

pp. 267-278

Author(s):

Stephen J. Pomeroy ◽

Theodore Plemons

Keyword(s):

Fiscal Management

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Fiscal Management

Management of Laboratory Animal Care and Use Programs ◽

10.1201/9781420038842.ch10 ◽

2001 ◽

pp. 243-255

Author(s):

James Alford

Keyword(s):

Fiscal Management

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Policy Forum: In Defence of the First Nations Fiscal Management Act

Canadian Tax Journal/Revue fiscale canadienne ◽

10.32721/ctj.2021.69.3.pf.ledressay ◽

2021 ◽

Vol 69 (3) ◽

pp. 829-833

Author(s):

André Le Dressay

Keyword(s):

First Nations ◽

Financial Management ◽

Indigenous Rights ◽

Supreme Court Of Canada ◽

Administrative Capacity ◽

Fiscal Management ◽

Debt Capital ◽

The Supreme Court ◽

Governmental Power ◽

Policy Forum

The debate with respect to the recognition of Indigenous rights, title, and jurisdiction has largely been won. It has now moved to how best to implement those rights, title, and inherent jurisdictions. For Indigenous taxation jurisdiction, implementation must address challenges related to taxpayer representation, concurrent jurisdiction, service agreements with other governments, administrative capacity, financial management, and access to public debt capital at competitive rates. In this article, the author argues that the First Nations Fiscal Management Act (FMA) has been successful in overcoming these challenges. The FMA has protected and expanded Indigenous tax jurisdiction through standards and institutional support. As a result, it represents an effective path for interested Indigenous governments "to exercise [their] inherently governmental power of taxation" affirmed by the Supreme Court of Canada in <i>Matsqui Indian Band</i>, and to expand their use of that power.

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Policy Forum: Implementing the Chippewas of Georgina Island First Nation Property Tax System—Opportunities, Challenges, and Lessons Learned

Canadian Tax Journal/Revue fiscale canadienne ◽

10.32721/ctj.2021.69.3.pf.mccue ◽

2021 ◽

Vol 69 (3) ◽

pp. 857-872

Author(s):

Kate McCue ◽

Bill McCue

Keyword(s):

First Nations ◽

Property Tax ◽

Lessons Learned ◽

First Nation ◽

Property Taxes ◽

Tax System ◽

Fiscal Management ◽

Local Services ◽

Policy Forum ◽

Do So

In 2018, the Chippewas of Georgina Island First Nation (GIFN) implemented a First Nation property tax system under the First Nations Fiscal Management Act (FMA)—one of the earliest First Nations in Ontario to do so. Implementation of a property tax system gave GIFN an opportunity to improve funding for and expand local services, and provide a more equitable sharing of local service costs between cottagers leasing First Nation land and the First Nation. Key challenges encountered when implementing the property tax system were building consensus around the need for a tax system, building an appropriate administrative infrastructure, carrying out property assessments, and professionals lacking knowledge of First Nation property tax. These challenges, however, presented opportunities to create a knowledge base around property taxation within GIFN, among cottage leaseholders, and in the wider community. Key lessons learned were (1) start as soon as possible; (2) First Nations Tax Commission support and standards are important; (3) staff training is important; (4) communicate early and often; (5) hold open houses; (6) local services are more than garbage collection; (7) property taxes do not harm lease rates or cottage sales; (8) educate lawyers, real estate agents, and other professionals; (9) startup costs were significant; (10) coordinate laws and standards with provincial variations; (11) modernize systems; and (12) utilize other parts of the FMA.

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