Sustainable Financing for Urban Karnataka: Viable Options

2021 ◽  
pp. 097542532110401
Author(s):  
Vishal R. ◽  
Kala S. Sridhar ◽  
S. Manasi
Keyword(s):  
Property Tax ◽  
Financial Statements ◽  
Current Paper ◽  
Tax Collection ◽  
Tax Base ◽  
Market Values ◽  
Revenue Sources ◽  
Revenue Streams ◽  
Generation Mechanisms ◽  
Sustainable Financing

The objectives of the current paper are to suggest measures to improve the taxation and tax collection mechanisms in selected cities of Karnataka. We review and reform (where necessary) bases of assessments of revenue streams and suggest enhancement of revenue sources by suitable mechanisms that can be implemented in all the selected cities. Finally, we estimate revenue capacities of the cities and recommend expansion capabilities. The methodology of the study involved visits to each of the selected 12 cities, examination of their audited financial statements, analysis of their major revenue sources and estimation of revenue capacities for each of the cities. We recommended measures to fix relevant policies to improve the system of tax collection and revenue generation mechanisms. Summarizing our findings, increasing revenue compliance from non-paying and unassessed properties and taxation of government properties of a commercial nature, increases the property tax base for all cities across the board. The next step is to increase values of properties, in accordance with market values in an economic sense, in a gradual manner. Water connections must be metered, given that water is a scarce resource, we find its revenue potential to be nearly the same as that from property tax.

An evaluation of property tax base in Nairobi city

2019 ◽  
Vol 24 (2) ◽  
pp. 184-199 ◽  
Author(s):  
Lucy M. Nyabwengi ◽  
Owiti A K’Akumu
Keyword(s):  
Property Tax ◽  
City Government ◽  
Primary Data ◽  
Original Research ◽  
Tax Base ◽  
Content Type ◽  
Market Values ◽  
Property Taxation ◽  
The City ◽  
Tax Bases

Purpose This study aims to evaluate the property tax base under the local government property taxation in Nairobi City and its implication on revenue adequacy of the city. Nairobi has grown both in population and in physical extent resulting to increased demand for urban services. The city faces challenges of adequate infrastructure service provision against increasing demand. Property taxation if fully exploited can be a major source of city government revenue, which has been dwindling. Design/methodology/approach Literature review of property tax bases in the world and examination of best practices was done to highlight the inadequacies of property tax base administration in Nairobi. Primary data were gathered through interviews of officers in Nairobi City involved in the land rating process. Secondary data were obtained through documentary search and field survey of the study area. Findings The study established that Nairobi relies on a dual system of taxation, namely, site value rating and area rating. Tax is on vacant land only and excludes improvements. There are many legal exemptions and administrative exclusions from the tax base. The property tax registers do not include all the taxable properties and there is no regular updating of the tax registers. Nairobi relies on an outdated valuation roll whose values have no relation to the current market values. Research limitations/implications These factors have resulted to a narrow tax base, which affects the revenue potential of the city and its ability to adequately provide infrastructure services. Originality/value This is an original research, which relied mainly on primary data. To establish the property tax bases and the exempt properties in Nairobi, the researchers interviewed the officers at the Nairobi city land valuation and property management directorate using structured questionnaires. To address the third objective on whether the property tax base is complete and all-inclusive, the research relied on primary data. The research population was residential properties in Buruburu, Kilimani and Riruta areas of Nairobi city. The sample data on property details were collected from the Ministry of Land and Physical Planning (MLPP). The researchers then examined the records at the Nairobi City to evaluate whether the properties, which are registered at the MLPP, are charged land rates at the city level and at what amounts. This included properties under site value rating and area rating.

scholarly journals The Fiscal Effects of Tax Increment Financing on Rural School Districts: The Case of Iowa

AERA Open ◽  
2021 ◽  
Vol 7 ◽  
pp. 233285842199114
Author(s):  
Phuong Nguyen-Hoang
Keyword(s):  
Rural Communities ◽  
School Districts ◽  
Property Tax ◽  
Rural School ◽  
Tax Rates ◽  
Rural School Districts ◽  
Tax Increment Financing ◽  
Tax Base ◽  
Positive Effects ◽  
Development Tool

Tax increment financing (TIF)—an economic (re)development tool originally designed for urban cities—has been available to rural communities for decades. This is the first study to focus solely on TIF in rural school districts, to examine TIF effects on school districts’ property tax base and rates, and to conduct event-study estimations of TIF effects. The study finds that TIF has mostly positive effects on rural school districts’ property tax base and mixed effects on property tax rates, and that TIF-induced increases in tax base come primarily from residential property and slightly from commercial property. The study’s findings assert the importance of returned excess increment if rural school districts in Iowa and many other states are to benefit from TIF.

INCOME ELASTICITY OF THE PROPERTY TAX BASE

1964 ◽  
Vol 17 (3) ◽  
pp. 253-264 ◽  
Author(s):  
BENJAMIN B. BRIDGES,
Keyword(s):  
Income Elasticity ◽  
Property Tax ◽  
Tax Base

scholarly journals Range data reported to the requirements of the IAS 12 and impact of the IFRS adoption for tax purposes in the tax collection of the Czech Republic

2013 ◽  
Vol 61 (4) ◽  
pp. 961-966 ◽  
Author(s):  
Simona Jirásková
Keyword(s):  
Czech Republic ◽  
Financial Reporting ◽  
Income Tax ◽  
Range Data ◽  
Tax Collection ◽  
Tax Base ◽  
The Czech Republic ◽  
Accounting Regulation ◽  
The Impact ◽  
The Relationship

An issue of relationship between corporate income tax and accounting is one of the most discussed at present. Until recently the tax base was derived from the accounting profit defined in the Czech accounting law. But from 2004 there are companies which have to use IFRS in bookkeeping and financial reporting and from the perspective of the Czech accounting law they do not care about Czech accounting regulation. On the other hand Czech tax regulation has not accepted this change in the field of European accounting harmonization and still directs to pay tax on the basis of Czech accounting regulation for all entities. Fear of adverse change in tax collection is one of the main reasons why the Czech Tax Administration does not allow to pay income tax under profit or loss patterned on IFRS. The most important goal of this work is to characterize the relationship between accounting profit or loss under IFRS and the tax base of income and to find out the impact of taxation under profit in accordance with IFRS in total tax collection. Basic sample of all analyses consists of 35 accounting entities which mandatorily use IFRS and this sample was also confronted with a list of 106 major payers of income tax published yearly by the Ministry of Finance of the Czech Republic for the needs characterization of the relationship of profit under IFRS and the tax base of income.

scholarly journals Association between Accounting Numbers and Value of Food and Beverages Firms in Nigeria

2015 ◽  
Vol 7 (12) ◽  
pp. 245
Author(s):  
Nyor Terzungwe ◽  
Nasiru Rabiu
Keyword(s):  
Value Relevance ◽  
Stock Exchange ◽  
Investment Decision ◽  
Market Price ◽  
Accounting Information ◽  
Financial Statements ◽  
Annual Reports ◽  
Market Values ◽  
Food And Beverages ◽  
Accounting Numbers

<p>The degree of statistical relationship between the contents of financial statements and market price of equity is what is termed Value relevance of accounting information. It explains stock market measures using financial information variables and it is a very useful guide to investors in pricing of shares. This study examines the extent of association between accounting information variables of earnings, dividend and book value of equity and market value of listed Food and Beverages firms in Nigeria. Data were collected from the published annual reports of the sampled firms and their market values obtained from the official daily list of the Nigerian Stock Exchange (NSE) over a period of 10 years (2001-2010). Using multivariate regression as technique for data analysis, the study established that accounting information of Food &amp; Beverages companies in Nigeria is value relevant. Accordingly, the study recommends the use of financial statements figures of Food and Beverages firms for investment decision.</p>

scholarly journals Howzat? The Financial Health of English Cricket: Not Out, Yet

2019 ◽  
Vol 7 (1) ◽  
pp. 11 ◽  
Author(s):  
Daniel Plumley ◽  
Rob Wilson ◽  
Robbie Millar ◽  
Simon Shibli
Keyword(s):  
Structural Changes ◽  
Financial Statements ◽  
Financial Health ◽  
Financial Problems ◽  
England And Wales ◽  
Financial Position ◽  
General Terms ◽  
Revenue Streams ◽  
And Performance

In 1997 a review of the financial health of English county cricket highlighted strategic weaknesses within the professional game, principally an over-reliance by clubs on the annual grants provided to them by the England and Wales Cricket Board (ECB). Without such grants the teams, in general terms, would be insolvent. Using the financial statements of the First Class Cricket Counties, this paper explores how the financial position and performance of the county game has changed, 20 years on from the seminal study. A series of structural changes to the game had been made, yet financial problems are still evident. Counties are as reliant on central grant income as they were in 1997, although there are cases where clubs have made strategic enhancements and are becoming self-sustainable as going concerns. Rather than the ECB directly funding county revenue it should be working in collaboration with individual clubs to achieve developments in the game from the grassroots upwards, in order to help clubs grow their own revenue streams.

State Equalizing Aids and Metropolitan Tax Base Sharing: A Comparative Analysis

1981 ◽  
Vol 9 (4) ◽  
pp. 449-470 ◽  
Author(s):  
Peter S. Fisher
Keyword(s):  
Comparative Analysis ◽  
Local Government ◽  
Property Tax ◽  
The State ◽  
Twin Cities ◽  
Tax Base ◽  
Fiscal Capacity ◽  
Tax Bases

State gram programs aimed at equalizing local government fiscal capacities and metropolitan-wide programs for the sharing of property tax bases are very similar in terms of objectives as well as operation. The Twin Cities tax base sharing system, which has served as a model for numerous other proposals, has some serious deficiencies; a proposal for eliminating these defects is developed by viewing tax base sharing as a set of fiscal capacity equalizing grants. Alternative formulas are evaluated, and the merits of tax base sharing at the state rather than metropolitan level are discussed.

scholarly journals The effect of political connections on companies’ performance and value

2018 ◽  
Vol 8 (2) ◽  
pp. 185-204 ◽  
Author(s):  
Anis Maaloul ◽  
Raïda Chakroun ◽  
Sabrine Yahyaoui
Keyword(s):  
Emerging Economies ◽  
Stock Exchange ◽  
Financial Statements ◽  
Political Connections ◽  
Business Success ◽  
Minority Shareholders ◽  
Content Type ◽  
Market Values ◽  
The One ◽  
Practical Implications

Purpose The purpose of this paper is to examine the effect of companies’ political connections (PCs) on their financial and stock performance, as well as on their market values. Design/methodology/approach A sample of non-financial companies listed on the Tunis Stock Exchange (TSE) between 2012 and 2014 was used. The accounting and financial data of these companies were obtained from their financial statements, whereas data on PCs of their officers and directors were collected manually from various sources. Correlation and multivariate regression analyses were performed to test the hypothesis of this research. Findings The results showed that PCs improve companies’ performance and value. These results could be explained, on the one hand, by the benefits and favors that companies can get from their political ties and, on the other hand, by investors’ tendency to invest in politically connected companies to benefit from these advantages. Research limitations/implications The limited number of non-financial companies listed on the TSE is a limit for this research. Practical implications The results show that investment in companies which are politically inter-connected may be beneficial for investors, and especially for small minority shareholders. Social implications The results confirm that political links are essential for business success in emerging economies, such as Tunisia. However, the positive link between politics and business might highlight the issue of corruption after the revolution. Originality/value To the best of the authors’ knowledge, this is the first study to examine the effect of PCs on the performance and value of Tunisian companies after the 2011 revolution.

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