scholarly journals LEGAL AND THEORETICAL ASPECTS OF PROPERTY TAXES

2016 ◽  
Vol 2627 (34) ◽  
pp. 195-222
Author(s):  
Agnieszka Żywicka ◽  
Tomasz Wołowiec
Keyword(s):  
Property Tax ◽  
Market Value ◽  
Property Taxes ◽  
Ad Valorem Tax ◽  
Property A ◽  
Real Property ◽  
Personal Property ◽  
The Government ◽  
Special Assessment ◽  
Fair Market Value

A property tax (or millage tax) is a levy on property that the owner is required to pay. The tax is levied by the governing authority of the jurisdiction in which the property is located; it may be paid to a national government, a federated state, a county or geographical region, or a municipality. Multiple jurisdictions may tax the same property. This is in contrast to a rent and mortgage tax, which is based on a percentage of the rent or mortgage value. There are four broad types of property: land, improvements to land (immovable man-made objects, such as buildings), personal property (movable man-made objects), and intangible prop-erty. Real property (also called real estate or realty) means the combination of land and improvements. Under a property tax system, the government requires and/or performs an appraisal of the monetary value of each property, and tax is assessed in proportion to that value. Forms of property tax used vary among countries and jurisdictions. Real property is often taxed based on its classification. Classification is the grouping of properties based on similar use. Properties in different classes are taxed at different rates. Examples of different classes of property are residen-tial, commercial, industrial and vacant real property. A special assessment tax is sometimes confused with property tax. These are two distinct forms of taxation: one (ad valorem tax) relies upon the fair market value of the property being taxed for justification, and the other (special assessment) relies upon a special enhance-ment called a “benefit” for its justification

THE CONCEPT OF REAL ESTATE TAXATION BASED ON THE AD VALOREM PRINCIPLE

2018 ◽  
Vol 8 (2) ◽  
pp. 114-117
Author(s):  
Tomasz Wołowiec
Keyword(s):  
Real Estate ◽  
Property Tax ◽  
Tax Rates ◽  
Ad Valorem Tax ◽  
Real Property ◽  
Personal Property ◽  
The Government ◽  
Special Assessment ◽  
Fair Market Value ◽  
Ad Valorem

A property tax (or millage tax) is a levy on property that the owner is required to pay. The tax is levied by the governing authority of the jurisdiction in which the property is located; it may be paid to a national government, a federated state, a county or geographical region, or a municipality. Multiple jurisdictions may tax the same property. This is in contrast to a rent and mortgage tax, which is based on a percentage of the rent or mortgage value. There are four broad types of property: land, improvements to land (immovable man-made objects, such as buildings), personal property (movable man-made objects), and intangible property. Real property (also called real estate or realty) means the combination of land and improvements. Under a property tax system, the government requires and/or performs an appraisal of the monetary value of each property, and tax is assessed in proportion to that value. Forms of property tax used vary among countries and jurisdictions. Real property is often taxed based on its classification. Classification is the grouping of properties based on similar use. Properties in different classes are taxed at different rates. Examples of different classes of property are residential, commercial, industrial and vacant real property. In Israel, for example, property tax rates are double for vacant apartments versus occupied apartments. A special assessment tax is sometimes confused with property tax. These are two distinct forms of taxation: one (ad valorem tax) relies upon the fair market value of the property being taxed for justification, and the other (special assessment) relies upon a special enhancement called a "benefit" for its justification.

LEGAL AND ECONOMIC ASPECTS OF PROPERTY TAXATION IN THE EUROPEAN UNION

2018 ◽  
Vol 1 (3) ◽  
pp. 231-278
Author(s):  
Tomasz Wołowiec
Keyword(s):  
Real Estate ◽  
Property Tax ◽  
Tax Rates ◽  
The European Union ◽  
Real Property ◽  
The Real Estate ◽  
Personal Property ◽  
Property Taxation ◽  
Estate Property ◽  
The Government

A property tax (or millage tax) is a levy on real estate that the owner is required to pay. The tax is levied by the governing authority of the jurisdiction in which the real estate property is located; it may be paid to a national government, a federated state, a county or geographical region, or a municipality. Multiple jurisdictions may tax the same property. This is in contrast to a rent and mortgage tax, which is based on a percentage of the rent or mortgage value. There are four broad types of property: land, improvements to land (immovable man-made objects, such as buildings), personal property (movable man-made objects), and intangible property. Real property (also called real estate or realty) means the combination of land and improvements. Under a property tax system, the government requires and/or performs an appraisal of the monetary value of each property, and tax is assessed in proportion to that value. Forms of property tax used vary among countries and jurisdictions. Real property is often taxed based on its classification. Classification is the grouping of properties based on similar use. Real estate properties in different classes are taxed at different rates. Examples of different classes of property are residential, commercial, industrial and vacant real property. In Israel, for example, property tax rates are double for vacant apartments versus occupied apartments.

Fiscal Secession: An Analysis of Special Assessment Financing in California

2018 ◽  
Vol 56 (2) ◽  
pp. 480-512
Author(s):  
Mathew D. McCubbins ◽  
Ellen C. Seljan
Keyword(s):  
Ethnic Diversity ◽  
Local Governments ◽  
Property Tax ◽  
Property Taxes ◽  
Single Family ◽  
Progressive Taxation ◽  
Geographic Ranges ◽  
Alternative Method ◽  
Local Services ◽  
Special Assessment

Special assessments on property are a fiscal innovation employed by many local governments. Unable to raise property taxes due to limitations, localities have turned to these charges as an alternative method to fund local services. In this article, we seek to explain differential levels of special assessment financing through the analysis of property tax records of a sample of single-family homes in California. We theorize that special assessments, as opposed to other forms of taxation, will be used when residents hold anti-redistributive preferences. We show that annual assessment payments are correlated with the ethnic diversity and median family incomes of the census places within which they are located. We also show that assessments with narrow geographic ranges are levied extensively on expensive homes in poorer cities. We discuss the implications of special assessments for progressive taxation and the potential for fiscal secession within U.S. cities.

探討土地增值稅與房地合一所得稅之稅額計算立法

2020 ◽  
Vol 20 (20) ◽  
pp. 123-159
Author(s):  
林俊宏 林俊宏 ◽  
陳雪貞 Jim Lin
Keyword(s):  
Property Tax ◽  
Land Value ◽  
Real Property ◽  
The Real ◽  
The Past ◽  
Property Prices ◽  
The Social ◽  
Property Price ◽  
The Government ◽  
Standard Calculation

鑒於近年來房地價格異常上漲，逐步造成房地持有人與租戶間貧富差距拉大，因過往稅制對房地上漲的利潤只課徵偏低的稅負，加速了社會對房地投機的心態，並使房地產價格居高不下，政府為抑制房價快速飆漲，進而修正稅制而實行房地合一所得稅制度，期盼此一制度能有利房價回歸至合理價位。修正前我國房地出售時，土地應課徵土地增值稅，房屋應併入課徵所得稅，理論上，土地增值屬財產交易所得之一種（機會稅），應課徵所得稅。但因為我國已將土地之增值部分課徵土地增值稅，故不再課徵綜合所得稅，因此土地增值稅與綜合所得稅乃採分離課稅的形式。然而分離課稅不能正確衡量納稅義務人之納稅能力，基於漲價歸公的理念，新制房地合一所得稅希藉以補足原土地增值稅未核課部分來抑制房價，但新制實施至今仍有許多未盡之處仍有待討論，因此本文特別針對土地增值稅與房地合一所得稅在課徵範圍、課徵稅率、土地現值計徵標準、稅額計算之優惠及扣除項目等加以比較研究，並提出本文看法。Due to the unusual increase of real property prices in the recent years, the wealth gap between the property holders and the tenants has gradually widened. In the past, the government merely imposed the lower property tax on the rising property profits, so that it has accelerated the social speculation on premises and let the real property prices remain high. For balancing the rapid rise in real property prices, the government had adjusted the property tax and implement the “Integrated Housing and Land Tax” in order to guide the real property price into a reasonable price. Before the implementation of the new tax on per real property transaction, the land should be subject to the old “Land Value Increment Tax,” and the house should be calculated into the income tax. However, the old separately calculation measures on real property tax cannot reflect the taxpayer’s taxability. Based on the idea of confiscating the land profit increase, the new tax has been used to supplement the untaxed part of the old tax to curb the real property prices. However, there are still some imperfect parts on the new tax, this article thus hopes to specifically address and compare the scope, rate, quotation standard, calculation discount and the deduction items between the new “Integrated Housing and Land Tax” and the old “Land Value Increment Tax.”

scholarly journals Eminent Domain a Decade After Kelo

2019 ◽  
Vol 5 (3) ◽  
pp. 1101-1129
Author(s):  
Lauren Trimble
Keyword(s):  
Market Value ◽  
Eminent Domain ◽  
Property A ◽  
Equity Value ◽  
Sports Stadiums ◽  
Fair Market ◽  
Tax Benefits ◽  
Definition Of ◽  
Fair Market Value ◽  
New London

This Comment addresses the controversial Kelo v. City of New London decision and focuses on the state of Texas’ response to Kelo through its enactment of section 2206.001 of the Texas Government Code. This Comment discusses the implications of this statute in the realm of professional and college sports stadiums in Texas. Additionally, this Comment provides a background in the evolution of the eminent domain doctrine and prominent Supreme Court decisions expanding an authorized entity’s eminent domain power under a broadened definition of the entity providing a “public use.” The arguments are analyzed for whether Texas college and professional stadiums provide a public use, concluding that land takings from private landowners for the purpose of building sports stadiums constitutes a permissible public use under the Kelo standard. Land takings to build a sports stadium likely constitute a public use because it provides access to public participation, national prominence, revenue, tax benefits, and hurricane shelter for its citizens. Finally, this Comment proposes legislative amendment to section 2206.001(c) of the Texas Government Code that would raise the threshold for landowner’s compensation from 100% of the fair market value to 150%—250% of the fair market value of the property. A higher compensation would reimburse the landowner for the equity value of the property and would help prevent potential holdouts.

Compensation for land and building compulsorily acquired in Nigeria

2018 ◽  
Vol 36 (4) ◽  
pp. 446-460
Author(s):  
Idu Robert Egbenta ◽  
Francis P. Udoudoh
Keyword(s):  
Land Use ◽  
Market Value ◽  
Land Acquisition ◽  
Real Property ◽  
Content Type ◽  
Land Owners ◽  
Fair Market ◽  
The Law ◽  
Fair Market Value

Purpose Valuation for compensation on land and buildings compulsorily acquired for public purposes is statutory. The Land Use Act (LUA) of 1978 now cited as Laws of the Federation of Nigeria, CAP l5 LFN 2007, stipulates the use of Depreciated Replacement Cost (DRC) Method in the valuation for compensation purposes for building and installation. The purpose of this paper is to criticize the application of the DRC technique in the valuation by acquiring authority as it does not arrive at fair market value and adequate compensation in Nigeria. Design/methodology/approach The method adopted for the study was a case study of real world valuation for compensation. Data used in the study were gathered mainly from government ministries and agencies responsible for land acquisition and compensation purposes. They included the Ministry of Lands and Housing, Land Use and Allocation Committee, and Ministry of Works and Transport. Market data on rental value, sales prices and other relevant data were collected from firms of professional that deal in real property. Findings The result of the study reveals that valuation by acquiring authority using DRC methods as prescribed by the LUA does not reflect market value and it is inadequate to put the claimants in the position they were before the acquisition. As such, most victims expressed dissatisfaction with the amount paid to them, which sometimes result to crisis, conflict and prolonged litigation, resulting in delay in executing or abandonment of the intended project. Research limitations/implications The study is limited to only one case study on acquisition and compensation for land and buildings with particular reference to Akwa Ibom State. This limitation does not invalidate the result as the law is applicable to the whole country. Practical implications The implication is that the LUA needs to be review to fair market value as basis of valuation and payment for site value as well as the constitution to add “adequate” to Section 44 (1a). This will reduce the incidence of many communities and land owners protest against the decision of government or its agents to acquire their land for public purposes. Originality/value The methodology meets the requirement of the law regarding compulsory land acquisition and compensation in Nigeria: The LUA of 1978. Using three scenarios: the valuation by acquiring authority, claimant’s valuers and independent valuers to illustrate the critique of the methodology, the result shows the inadequacy of compensation.

scholarly journals Alternative Forms of Taxation to Achieve Equitable Levels of Educational Expenditures

1973 ◽  
Vol 5 (2) ◽  
pp. 7-13
Author(s):  
Fred C. White ◽  
Bill R. Miller
Keyword(s):  
Local Government ◽  
Low Income ◽  
Public Services ◽  
Local Level ◽  
Property Tax ◽  
Property Taxes ◽  
Real Property ◽  
Government Services ◽  
Educational Expenditures ◽  
Low Income Families

Pressures are increasing for reforms in financing of local government services. At the local level, the property tax is a major source of concern. Two major charges leveled against the property tax are (1) that the property tax is regressive and (2) that financing local government services through the property tax leads to inequities in services received.The charge that the property tax is regressive stems from the fact that it is a tax on wealth and not on income. The amount of real property owned by a person is not necessarily proportional to his ability to pay taxes. Several studies have shown that property taxes are regressive; i.e., that low-income families pay a greater percentage of their income for public services than do middle- and upper-income families.

THE CONCEPT OF REAL ESTATE TAXATION BASED ON THE AD VALOREM PRINCIPLE

2021 ◽  
Vol 9 (1) ◽  
pp. 225-249
Author(s):  
Sylwia Skrzypek - Ahmed ◽  
Tomasz Wołowiec
Keyword(s):  
Real Estate ◽  
Property Tax ◽  
Tax Rates ◽  
Real Property ◽  
System A ◽  
Estate Taxation ◽  
Pros And Cons ◽  
The Government ◽  
Taxation System ◽  
Ad Valorem

The purpose of this paper is to evaluate the pros and cons of ad valorem real estate taxation in the context of the reform of the Polish real estate taxation system. A property tax (or millage tax) is a levy on property that the owner is required to pay. The tax is levied by the governing authority of the jurisdiction in which the property is located; it may be paid to a national government, a federated state, a county or geographical region, or a municipality. Multiple jurisdictions may tax the same property. This contrasts with a rent and mortgage tax, which is based on a percentage of the rent or mortgage value. There are four broad types of property: land, improvements to land (immovable man-made objects, such as buildings), personal property (movable man-made objects), and intangible proper-ty. Real property (also called real estate or realty) means the combination of land and im-provements. Under a property tax system, the government requires and/or performs an appraisal of the monetary value of each property, and tax is assessed in proportion to that value. Forms of property tax used vary among countries and jurisdictions. Real proper-ty is often taxed based on its classification. Classification is the grouping of properties based on similar use. Properties in different classes are taxed at different rates. Examples of different classes of property are residential, commercial, industrial, and vacant real proper-ty. In Israel, for example, property tax rates are double for vacant apartments versus occu-pied apartments.

State Supervision of Local Fiscal Officers in Virginia

1931 ◽  
Vol 25 (4) ◽  
pp. 1004-1008
Author(s):  
James E. Pate
Keyword(s):  
Local Government ◽  
Real Estate ◽  
Market Value ◽  
The State ◽  
Personal Property ◽  
State Supervision ◽  
The People ◽  
State Tax ◽  
Fair Market ◽  
Fair Market Value

One of the achievements of the brilliant administration of Harry F. Byrd was the segregation of the sources of revenue. The governor was quite sincere and enthusiastic in his support of this principle, believing, it seemed, that it was the panacea for a great many of our tax troubles. His exuberant enthusiasm caused him to make an error, many believe, when he had written into the rather inflexible constitution of the commonwealth the provision that no state tax shall be levied on real estate and tangible personal property. The state, therefore, no longer has any interest in this kind of property, and its supervision over local fiscal officers extends only so far as they are agents of the state, assessing and collecting the state's revenue.Each county and city has a local commissioner of the revenue, elected by the people, who assesses for the state intangible personal property, individual incomes, and money and capital, and who assesses for the local government tangible personal property, machinery and tools, and merchants' capital. The state tax commissioner has forms printed and sent to each local commissioner on which all the items mentioned above are supposed to be listed at their fair market value by the taxpayer. Mr. Morrissett, the present state tax commissioner, has inaugurated a plan of holding annual conventions of commissioners of the revenue where the problem of assessment and the complications of the state tax code are discussed.

Fiscal role of personal property tax

2020 ◽  
pp. 143-149
Author(s):  
Р.Ш. Абакарова
Keyword(s):  
Russian Federation ◽  
Local Governments ◽  
Property Tax ◽  
Property Taxes ◽  
Current Role ◽  
Personal Property ◽  
Factors Influencing ◽  
The Russian Federation ◽  
The Impact

Цель работы – выявить текущую роль имущественных налогов в формировании бюджетных доходов территорий Российской Федерации. Основные элементы рассматриваемых налогов изучены с применением метода наблюдения и сбора фактов. Рассматриваются факторы, влияющие на фискальную значимость изучаемого налога, анализируется динамика его элементов. Рассматриваются перспективы изменения исчисления и взимания налога, а также возможные варианты влияния элементов налога и других факторов на его фискальную значимость. Делается вывод о низкой фискальной роли налога и практическом отсутствии возможностей влияния на фискальную значимость органов местного самоуправления в рамках полномочий, определенных Налоговым кодексом РФ при установлении и введении в действие данного налога на территории муниципального образования. The purpose of the work is to identify the current role of property taxes in the formation of budget revenues territories of the Russian Federation. The main elements of the taxes under consideration were studied using the method of observation and collecting facts.The factors influencing the fiscal significance of the tax under study are considered, and the dynamics of its elements is analyzed. The prospects for changes in the calculation and collection of tax, as well as possible options for the impact of tax elements and other factors on its fiscal significance are considered. The conclusion is made about the low fiscal role of the tax and the practical lack of opportunities to influence the fiscal significance of local governments within the powers defined by the Tax code of the Russian Federation when establishing and implementing this tax on the territory of a municipality.

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