Taxing Immovable Property Revenue Potential and Implementation Challenges

By John Norregaard. Social Science Research Network, 2013

194 citations recorded by the source corpus.

The tax on immovable property has been characterized as probably the most unpopular among tax instruments, in part because it is salient and hard to avoid. But economists continue to emphasize the virtues of the property tax owing to its relatively low efficieny costs, benign impact on growth, and high score on fairness. It is, therefore, generally considered to be underutilized in most countries. This paper takes stock of the arguments for using real property taxation, and presents an updated data-set for high-and middle income countries to illustrate its use. It also reflects the renewed and widespread interest in property tax reform globally, and discusses the many policy and administrative issues that must be carefully considered as prerequisites for successful property tax reform.

View Paper: https://www.semanticscholar.org/paper/3b1665cdc4c96807a3fdc441fb2cedb25f6559d9

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Citations in the corpus

Austerity versus Stimulus? Understanding Fiscal Policy Change at the International Monetary Fund Since the Great Recession (2015, background): “…on taxes targeted at the wealthy: property taxes targeted at the top 1 percent (a measure estimated to raise between 2-3 percent of the global GDP in new tax revenue), financial transactions tax, and a coordinated taxation of offshore incomes (Torres 2013; Acosta and Yoo 2012; Norregaard 2013).”
Inequality in China – Trends, Drivers and Policy Remedies (2018, background): “They are also considered to be a very efficient source of tax revenues, as they tend to be the least distortive to growth (Norregaard 2013).”