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Replacement of Taxes on Farm and Residential Property by Increasing the State Income Tax in Illinois: A Simulation
Author(s) -
Little Randall D.,
Fettig Lyle P.
Publication year - 1989
Publication title -
applied economic perspectives and policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.4
H-Index - 49
eISSN - 2040-5804
pISSN - 2040-5790
DOI - 10.1093/aepp/11.1.83
Subject(s) - property tax , economics , revenue , public economics , statutory law , state (computer science) , government (linguistics) , tax revenue , property (philosophy) , income tax , state income tax , tax reform , business , finance , law , linguistics , philosophy , algorithm , epistemology , political science , computer science
Property taxation has long been the focus of debate and criticism. Decreasing reliance on property taxation requires either cutting government services or increasing reliance on alternative revenue sources. This study estimates the effect on the statutory tax burden of partly or fully replacing the farm and residential property tax with an increased state income tax in Illinois, according to groupings of counties.