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Site Value Taxation in a Declining City
Author(s) -
Kochanowski Paul S.
Publication year - 1991
Publication title -
american journal of economics and sociology
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.199
H-Index - 38
eISSN - 1536-7150
pISSN - 0002-9246
DOI - 10.1111/j.1536-7150.1991.tb02485.x
Subject(s) - revenue , land value , value (mathematics) , tax revenue , property tax , economics , property value , natural resource economics , land values , land use , public economics , business , finance , civil engineering , engineering , real estate , machine learning , computer science
A bstract . The relationship is analyzed between the economic decline of a central city and the likelihood that a site value tax will be politically acceptable. Public choice and land use models are combined to generate a scenario of land use changes and changes in improvements to land ratios which determine whether a specific property owner will gain or lose from a revenue‐neutral site value tax. A case study is presented which substantiates many of the effects suggested by the model. In general, private and public sector responses to a city's decline result in an atmosphere that is relatively hostile to site value taxation.