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Publication Date: December 2007
Publisher: Tax Policy Center
Author(s): David Brunori
Research Area: Government
Keywords: Tax Policy; State and Local Issues; Taxes, the Budget, and the Economy; General Tax Policy
Type: Book
Abstract:
Local governments are struggling to raise revenue for public services, but their fiscal autonomy has been declining for decades. By ceding financial control to the states, localities have ceded political control over their affairs. Paralleling this loss, local governments are losing control over property tax, their most stable and reliable source of revenue. Brunori explores the roots of the current fiscal crisis, evaluates various relief proposals, and champions the property tax, offering a blueprint for strengthening this oft-maligned instrument. The second edition has been updated to reflect new tax policy developments since the publication of the first edition in 2003.