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A Comprehensive Model of Determinants of Property Tax Assessment Quality: Evidence in New York State
Author(s) -
EOM TAE HO
Publication year - 2008
Publication title -
public budgeting and finance
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.694
H-Index - 30
eISSN - 1540-5850
pISSN - 0275-1100
DOI - 10.1111/j.1540-5850.2008.00897.x
Subject(s) - property tax , public economics , quality (philosophy) , property (philosophy) , state (computer science) , tax credit , economics , value (mathematics) , business , ad valorem tax , tax reform , actuarial science , philosophy , epistemology , algorithm , machine learning , computer science
This study proposes and examines a comprehensive model for the determinants of property tax assessment quality. In addition to providing evidence in support of reform of property tax administration by institutionalizing the full market value standard, a specific revaluation cycle, and county or statewide assessment functions, this study examines the impact of the monitoring pressure of residents on the quality of assessment. The empirical results reveal that the median tax share, the median property value as a share of median income, the ratio of state aid to total expenditures, and the share of adults with college or higher education have significant impacts on the quality of property tax assessment.