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online assessment appeal (OAA) systems that we identified as having been implemented by assessment jurisdictions in the United States or Canada for real property assessments or in 2015 or earlier. Using online questionnaires to survey assessment jurisdictions that had implemented such systems, we develop patterns of variation that appear at the present time. While assessment jurisdictions in most states and provinces are just beginning to implement OAA systems, 98 percent of Texas counties (249 of 254) had implemented OAA systems and 20 counties in Florida, or nearly 30 percent of their 67 counties, had such systems. Data collected indicate that larger assessment jurisdictions appear to have sufficient appeal volume, staffing, IT capacity, and other needed resources to implement OAA systems. [ABSTRACT FROM AUTHOR]

The article discusses the struggle between municipalities and nonprofit hospitals in the U.S. regarding real property tax exemption. It mentions that municipalities impose tax on these hospitals as they operate like for-profit hospitals. It highlights that a new uniform code is should be adopted by each state and hospitals are required to establish a clear standard for charitable care to qualify for tax exemption.

The article focuses on the nature and characteristics of the different types of taxes including business and occupations tax, motor vehicle registration tax, and the real estate excise tax (REET). It presents arguments against imposing the REET on a change of control in context to the real property in the State of Washington. It analyzes the challenges in maintaining validity of the REET to be applied as property tax.

Abstract Reflecting the Progressive Era's reform agenda Simon Patten (1852-1922) argued that freeing markets from one source of economic rent (by taxing land rent) would merely leave the surplus to be taken by other monopolists and rent extractors (railroads, Wall Street trusts, and basic privatized utilities). To prevent unearned income (economic rent) from adding to the economy's cost of living and doing business, potentially rent-yielding infrastructure should be kept in the public domain as a 'fourth factor of production.' Instead of rentiers making a profit by charging access fees and user fees, the return to public investment should take the form of reducing the economy's overall price structure. [ABSTRACT FROM AUTHOR]

The article discusses the impact of homeowners associations (HOAs) on urban local governance in the U.S. The differences in the concepts of private neighborhood and traditional local governments are discussed in the context of public administration philosophy and taxation. A historical overview is presented of American property and business ownership rights and collective decision making in the business world. The idea that HOAs are private business corporations that are situated on common property which makes them look like a public government is discussed.

Property Assessed Clean Energy programs in Ohio represent one of the newest mechanisms available for financing energy efficiency and renewable energy improvements. PACE programs allow qualifying energy improvements to be financed through assessments on a property owner''s real estate tax bill. The special assessments are used to secure local government bonds issued to fund the improvements without requiring the borrower or the sponsoring local government to pledge its credit. [Copyright &y& Elsevier]

Copyright of International Journal of Strategic Property Management is the property of Vilnius Gediminas Technical University and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of International Journal of Strategic Property Management is the property of Vilnius Gediminas Technical University and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The article focuses on the implementation of an option conundrum in the U.S. tax law. It states that the option is defined as a contract between two parties providing the rights to the party, but do not relate to the purchase or sale of property at a set price and date. It also discusses the bilateral sales contracts with forfeited down payments as options.

This paper was developed for informational purposes only and does not necessarily represent a policy position of the International Association of Assessing Officers (IAAO). This paper is not an IAAO standard. It was prepared for the benefit of assessment professionals. This paper was approved for distribution by the IAAO Executive Board on January 23, 2010. [ABSTRACT FROM AUTHOR]

This paper was presented at the 12th International Conference, Land Value Capture in Urban Development: Role of Property Tax in Local Finance, held in Warsaw, Poland, June 23 and 24, 2009. The conference was jointly sponsored by the International Property Tax Institute (IPTI) and the Institute of Revenues, Rating, and Valuation (IRRV). [ABSTRACT FROM AUTHOR]

The article discusses a study related to the role of alternative revenue-recycling schemes, as a source of additional welfare from antisprawl policies. It mentions that even when there is uncertainty about the potential benefits of open space preservation, development taxes should still be part of the local tax system. A static model of an open city was developed for the study. It suggests that policymakers should consider additional issues regarding housing submarkets when allocating revenues.

The article discusses the traditional and nonproperty tax increment finance programs in each state in the U.S. It states that it is preferable to include nonproperty taxes in addition to property taxes within the tax increment to pay the development costs. It notes that some states' nonproperty tax increment finance programs have successfully balanced the increased revenues to withdraw project debt while decreasing the negative impact of tax increment financing on taxing jurisdictions.

The author discusses the like-kind exchanges of real estate under § 1031. He explains the rule under section 1031 that offers a special exception regarding the taxable interest on the exchange of property. The author also indicates the most important features of § 1031 in providing a tax- free treatment to the seller as well as to the buyer.

Property taxes are a fundamental source of revenue for local governments, constituting 73% of local government tax revenue in the United States. In this article, we empirically investigate the impact of residential property taxes on residential rents. Using data from the American Housing Survey and the National League of Cities, we estimate numerous specifications of a hedonic rent equation with comprehensive unit-level, neighborhood-level and city-level controls. We find that a one standard deviation increase in the property tax rate raises residential rents by roughly $400 annually. [ABSTRACT FROM AUTHOR]

The article discusses the result of the research which has determined the redistribution effects of reform in residential property tax in Northern Ireland. The geographic information system (GIS) is used to show the spatial distribution of tax and the effects of a change from domestic rates based on net annual values to capital values. The study shows that discrete value system has reduced the number of taxpayers with higher levies and has provided a more equitable local tax.

The article comprises the text of the Haisla Nation (Native American) 2006 tax assessment bylaw. The legislation passed by the Council of the Kitamaat Indian Band, also known as Haisla Nation, establishes property tax regulations. The bylaw includes dates of enactment and implementation and names the chief and councillor signatories.

The article comprises the text of the Kamloops Indian Band (Native American) 2006 tax rates bylaw for the Sun Rivers area. The legislation passed by the Council of the Kamloops Indian Band sets rates for residential, nonprofit, business, and other property types. The bylaw includes dates of enactment and implementation and names the chief and councillor signatories.

The article comprises the text of the Kamloops Indian Band (Native American) 2006 tax rates bylaw. The legislation passed by the Council of the Kamloops Indian Band sets rates for residential, utility, business, and other property types. The bylaw includes dates of enactment and implementation and names the chief and councillor signatories.

This article is based on a presentation by the author at the International Property Tax Institute 9th International Conference, Kuala Lumpur, Malaysia, August 23, 2006. [ABSTRACT FROM AUTHOR]

This article is an adaptation of the presentation, ‘Recent Developments in Real Property Taxation: Substantive’, given at the International Association of Assessing Officers' 26th Annual Legal Seminar held December 8 and 9, 2005, in Chicago, Illinois. In this concluding installment of the two-part series, the discussion turns to the court decisions and new legislation impacting such subject areas as condemnation, exemptions, and valuation methods. Part 1, which was published in Volume 3, Issue 4, explored the legal trends affecting valuation practices for specific property types. [ABSTRACT FROM AUTHOR]

Presents the text of the Chemainus First Nation property assessment and taxation by-law effective April 22, 2005. Scope and interpretation; Application of the by-law; Liability to taxation; Levy of tax.

The possible existence of investor clientele groups has received little attention in the real estate finance literature. In this paper we develop a clientele model, which in equilibrium produces a clustering of investors by tax characteristics. Low-tax-bracket investors are concentrated in low-value rental housing that attracts rents which are high in relation to property values. On the other hand, only high-tax-bracket investors will be observed in high-value rental housing, and they charge rents that are low in relation to property values. An empirical model is specified and estimated using a cross section of investors in Australian private rental housing markets. Investor clienteles are detected among property investors, though there is a weak diversification effect indicating that clientele effects may be stronger among single property investors. [ABSTRACT FROM AUTHOR]

Identifies and addresses some of the relevant issues and factors involved in valuing trophy properties, particularly office buildings, for real estate tax assessment purposes. Definition of trophy property; Assessment approaches to trophy properties; Similarity with approaches to income-producing properties; Special challenges for assessing officials and tax practitioners.

It is commonly understood that the tax law is composed of a complicated and interrelated set of statutory provisions. This raises the possibility that changes to one area of the law may necessitate revisions to other areas. While statutory change sometimes means that other provisions need to be added or amended, there is also the possibility that the enactment of a new provision allows for the repeal of another rule because it is either deadwood or simply no longer sensible in light of the rule's intended purpose as well as fundamental tax policies. A simplification study released by the U.S. Joint Committee on Taxation in 2001 indicates the prevalence of this deadwood phenomenon. This article recommends the repeal of 105 provisions identified as pure deadwood. The study also proposes the elimination of other provisions that no longer serve sound policy objectives as a result of tax law changes since their enactment. Given the tax law's interrelated statutory scheme and frequent changes, the extent of the deadwood phenomenon should come as no surprise. An area that is ripe for such a deadwood analysis is the Foreign Investment in Real Property Tax Act, and in particular section 897.

Identification of nonprofit organizations in a study area is often a first step in research or action projects. This article demonstrates the usefulness of combining two data sources: IRS 990 forms and municipal files on tax-exempt real property. A case study for a community in Philadelphia illustrates how merger of the two files expands the information base. Limitations and difficulties in applying this strategy are discussed, but the gain in combining the two sources is substantial. [ABSTRACT FROM AUTHOR]

Explores developments on real estate taxation in the U.S. Criteria involved in the New Markets Tax Credit established by the Community Renewal Tax Relief Act of 2000; Guidelines issued by the Internal Revenue Service on the substitution of new debt instruments for outstanding debt instruments; Ways in which taxpayers can characterize a leveraged lease transaction as a lease for federal income tax purposes.

Deals with United States laws real estate taxes. Information on the Installment Tax Correction Act of 2000 which repeals the modification of the installment method contained in the Taxpayer Relief Extension Act of 1999; Discussion on the extension and modification of environmental remediation costs; Details of relevant court cases.

Discusses important developments on real estate tax in the United States for the year 2000. Extensions of expiring tax provisions; Revenue offsets; Taxation on capital gains on installment sales of depreciable property.

Presents a case wherein a real estate purchaser's interest in property had priority over a prior perfected judgment lien creditor's interest and the federal government's tax lien. Difficulties in determining relative lien priority; Details on the case; Court ruling on the case.

Examines contributing factors to uncertainty surrounding property assessments burdened with conservation easements. Property valuation principles; Impact of conservation easements on market value of property; Taxation issues; Problems in the application of valuation approaches.

Comments on the impact of local real property taxes and public service expenditures on residential property values in North Carolina. Structure of the urban area; Variance of effective property tax rates; Assumptions on the demand elasticity of housing.

Focuses on the need for foreign investors to use grantor trusts in acquiring real estate in the United States. Imposition of a withholding tax; Reduction of the US taxable estate by foreign investors; Development of a trust avoiding corporate and partnership classifications.

Recently, Fisher, Lentz, and Stem (1984) simulated the impact of federal income tax changes on investment in nonresidential real estate. Their paper and others have identified the impact that past and proposed income tax changes had, or will have, on real estate by simulating the impact of tax changes on cash flows. Current discussions of the likely impact of potential tax reform utilize similar partial equilibrium techniques that probably exaggerate the impact of tax changes. No one has looked at the actual impact past changes have had on real estate investment returns. This paper will test the statistical impact of past tax changes on one estimate of real estate capitalization rates (cap rates). Fisher, Lentz, and Stern illustrated the impact of income tax changes on the rent-tovalue ratio, which is the cap rate in real estate terminology. The cap rate is equal to the net operating income divided by value, where net operating income is gross potential income tess vacancy and collection loss allowance and less operating expenses excluding financing costs and income taxes. In this paper a model of the changes in the cap rate for income property from 1966 through 1984 will be developed and used to show the impact of two tax law changes: 1976 and 1981. The 1976 law caused construction taxes and interest to be amortized rather than expensed, which increased the costs of new construction. The 1981 law primarily increased allowable depreciation from useful life by either straight-line, accelerated, or component techniques to straight line over a 15-year period. Although accelerated depreciation is used for residential investment property, the recapture provisions on resale make it unlikely for nonresidential properties covered in this study. In the second section we will develop a model of the cap rate. The data used for the study as well as their limitations will be described in sections three and four. The statistical estimates of the impact of tax taw changes will be reported in section five. The conclusion will compare the magnitude of these estimates of change in the cap rate associated with the tax law changes, with the magnitudes suggested by the Fisher, Lentz, and Stern analysis of cash flows. The statistical analysis of this paper suggests an impact less than half the magnitude of this previous work. [ABSTRACT FROM AUTHOR]

The following comments are divided along five lines. In the first section, I consider different forms that a contract for property tax transfer might take. The second section demonstrates why it may be economically sensible for someone to agree to pay someone else's property tax. The third section speculates on what the consequences of an unbundling of real estate ownership and tax liabilities might be. The fourth section discusses difficulties facing such a tax transfer system. Based on these difficulties, the fifth section attempts to explain why this separation of ownership and tax liability is not generally seen. [ABSTRACT FROM AUTHOR]

The objective of this study is to estimate and analyze an urban demand function for undeveloped land in the urban rural fringe. The urban-rural fringe includes land along the boundaries of a city, in the suburbs, in small incorporated towns near the city and extending into the unincorporated, partially developed countryside surrounding the city. It is the area where land is in transition. This land market is basically a private market subject to public controls such as zoning and taxation. Emerging land-use problems, such as the costs of extending urban services to increasingly dispersed urban activity and unprofitable agriculture near urban centers because of rising property tax assessments, will likely lead to increased public control of land use. Contributing to the increasing importance of these problems are population growth, income growth leading to increased dispersion of population, migration, dispersion of business activity, land speculation, more highways and recreation, and zoning and taxation policies.

Reports developments on the taxation of real estates in the United States as of June 1997. Amended sections to the Small Business Job Protection Act; Guidance in the treatment of rental agreements; Rules on the availability of low-income housing units; Tax withdrawal on disposition of US real property interest.

Details the purpose of determining the fair market value of a real property for tax purposes in the United States. Difficulty of judges in applying the law on cases involving real property valuation; Disagreements over the method used to value the property; Contribution of the market theory in reaching a just result over disputes.

Examines the impact of changes in the Revenue Reconciliation Act of 1990 on real estate taxes in the United States. Exclusion of capital carryovers and carrybacks from passive activity deductions; Treatment of lease-up as value enhancing service; Regulations on obtaining historic preservation certificates.

Examines the methods for financing public schools in the United States. Reliance of school systems on local property tax; Allocation of funds to address the needs of the students; Establishment of incentives to insure adequate funding of education throughout the state.