The traditional role of the property tax as the fiscal mainstay of local governments in the United States has been much diminished in the last two decades. Because of restrictions imposed by state governments and statewide electorates, the property tax has become more of a fiscal and political tool for state policymakers, losing much of its local character. Local governments in a number of states have much less control of the rates and yields of this major revenue source, giving up in the process a certain amount of fiscal autonomy. The trend is a national one, but it is particularly evident in the 13-state West in part because of the relatively extensive use in this region of voter initiatives that restrict this and other revenue sources. In detailing the restrictions adopted in recent years by individual western states as a result of voter initiatives and legislative actions, this paper demonstrates the centralization of the property tax and its reduced role as the principal source of fiscal discretion for local governments.

In A Good Tax, tax expert Joan Youngman skillfully considers how to improve the operation of the property tax and supply the information that is often missing in public debate. She analyzes the legal, administrative, and political challenges to the property tax in the United States and offers recommendations for its improvement. The book is accessibly written for policy analysts and public officials who are dealing with specific property tax issues and for those concerned with property tax issues in general.

This report examines the various types of taxable property and explains the mechanics of how property taxes are levied. It also examines various types of property and examines how states classify property and how they apply different assessment ratios. Even though the property tax is largely a local tax, state law provides the power to impose it. In addition, state legislatures develop property tax policies that have major effects on local governments' ability to raise revenue and provide services.--Publisher's description.

This text provides a history of property tax in America, revealing the fundamental difficulties confronting all past attempts at designing an equitable and efficient system of property taxation during the past two centuries.

States experiencing taxpayer revolts among homeowners are tempted to reduce reliance on the property tax to fund schools. But a more targeted approach can provide property tax relief and improve state funding for public education. This policy focus report includes a comprehensive review of recent research on both property tax and school funding, and summarizes case studies of seven states-- California, Massachusetts, Michigan, New Hampshire, New Jersey, Ohio and Texas. The majority of these states are heavily reliant on property tax revenues to fund schools. While there is no one-size-fits-all solution, the report recommends addressing property taxes and school funding separately.