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Real estate transfer taxes have been around a long time, but they receive scarcely any attention in public discussions about tax law and policy. While real estate practitioners may be familiar with a transfer tax in their work, they and their clients may not know how much it can vary in other states or consider how the variations can affect real estate prices and investment. Although real estate transfer taxes are a relatively small contributor to state tax revenues, they can be financially weighty to those buying or selling real estate, amounting to several thousand dollars or more. This Article provides background about the evolution of the real estate transfer tax, from a colonial stamp tax to a widely varying state tax. Some states’ constitutions forbid it; some states aim a tax at common real estate transactions; other states impose a tax at a relatively high rate and extend it even to complex transfers of interests in real estate holding companies. This Article examines the legal basis for the tax, describes its formulations, and analyzes the dynamics of its impact. The analysis includes consideration of two significant issues about the outer reaches of state transfer taxes: their application to foreclosures, including when there are claims of federal exemption, and when there is a transfer of control without a conveyance by deed. * [ABSTRACT FROM AUTHOR]

The article discusses a case law concerning transfer of tax residence to another Member State of the European Union (EU) as per Article 49 of Arbeitsweise der Europäischen Union (AEUV) the Treaty on the Functioning of the European Union (TFEU). It mentions actual administrative seat and relocation of their tax residence to that Member State. It also mentions freedom of establishment according to article 49 TFEU and relocation of actual administrative seat.

Models of optimal trading strategy for real estate typically compare the benefits of stepping up the depreciable basis of property against the cost of depreciation recapture and capital gains taxes. These models routinely predict holding periods that are much longer than those that actually occur. Although this predictive failure can be explained in part by the omission from these models of nontax motivations for property turnover, we argue that an important tax feature has also been ignored: namely, the special treatment accorded installment sales under Section 453 of the Internal Revenue Code. We demonstrate that when installment sales of property are used, predicted property values and turnover rates increase significantly prior to the 1986 Tax Reform Act. In contrast, installment sales are shown to have only minor impact after the 1986 Act. To derive our results, we rely on a simple dynamic programming model that determines both optimal trading strategies and market values. We also cite empirical evidence that supports our model. We further investigate the sensitivity of property market values and turnover rates to the magnitude of nontax transaction costs that are incurred when investors trade real estate. Here we show that when installment sales are ignored, transaction costs have very little effect on property values and turnover rates because recapture taxes and capital gains taxes are, by themselves, sufficient to deter frequent sales. But when installment sales are introduced, market values and turnover rates become quite sensitive to the size of the nontax transaction costs. [ABSTRACT FROM AUTHOR]

The introduction of a new real estate taxes in Italy in 2011 provides a natural experiment, which is useful to test for political budget cycles. The new real estate tax allowed discretion to local governments. This generates a random variation in the distance of municipalities from the following elections when they choose the level of the tax rate. We do find substantial evidence of political budget cycles, with municipalities choosing lower tax rates when close to elections. We observe this budget cycle for smaller municipalities where the tax was more likely to be the single most important issue for the local government. Cities close to elections with large deficits did not set lower rates and so did municipalities with a lower average value of properties. Finally, the political budget cycle is stronger in the South. [ABSTRACT FROM AUTHOR]

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]

Copyright of Research Papers of the Wroclaw University of Economics / Prace Naukowe Uniwersytetu Ekonomicznego we Wroclawiu is the property of Uniwersytet Ekonomiczny we Wroclawiu 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 discusses the decision of the U.S. Tax Court regarding issues of tax from property abandonment in the U.S. Topics discussed include a specific reference of a court case Malonzo v. Commissinor of Internal Revenue (CIR), foreclosure of mortgage loan and disagreement between the U.S. Internal Revenue Service (IRS) and taxpayer on tax consequences.

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 compares the conduct of strategic default, which accounts for the practice of opting an underwater home mortgage when the mortgager can easily pay and the U.S. taxpaying. It informs that this practice aggravates the residential mortgage crisis and accompanying its economic fixes. It concludes that state should address such strategic behavior to be illegal and the U.S. Congress should preempt state non-recourse law by enacting legislation based on restatement of property.

The valuation of specialised in-situ assets is one of the central issues in "land rich" cases. This article revisits the concept of deprivai value and identifies several problems associated with its use as a measure of market value for tax purposes. The article also provides an alternative theoretically sound frame-work to assess the market value of specialised in-situ assets for tax purposes in certain cases. [ABSTRACT FROM AUTHOR]

The article discusses the connection between the use of school busing to promote school desegregation in California and the development of public school finance reform and litigation in the 1970s. The author argues that school finance reform was brought about by opposition to desegregation busing as well as public anger over an increase in property tax values. Focus is given to the California Supreme Court's decision in the case Serrano v. Priest, which dealt with the racially discriminatory nature of per pupil expenditures in school districts that featured differing property values.

The article focuses on tax related court cases including Armour v. Indianapolis, which dealt with unequal tax assessment forgiveness by the U.S. Internal Revenue Service (IRS), and Home Concrete & Supply, LLC v. United States, which dealt with the overstatement of tax basis. Information is provided on post-petition tax liabilities from the sale of assets.

The article discusses the regulations of the U.S. Internal Revenue Service (IRS) for the capitalization and repair of buildings and some fixed assets. It states that the new rules are applicable to all businesses which produce, purchase, or repair tangible property. It adds that under the regulations, betterments, permament improvements, and restorations of properties should be capitalized.

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.

Purpose – Spatially enabled taxation systems provide public policy makers in Australia with a conundrum. For the Valuers General who provide the fiscal cadastre for the taxation system, spatial enablement could lead to a central role in State Government taxation or to a sidelined role. This paper aims to address this issue. Design/methodology/approach – The paper uses a survey of Valuers General. Findings – The paper establishes the current extent of adoption of spatially enabled taxation systems, identifies current provision and uses of valuation data and explores possible future provision and uses of such data. Research limitations/implications – The sample size for survey may limit its use elsewhere. Practical implications – The paper concludes that further integration and a unified national policy approach would be preferable. Originality/value – The first published paper to establish the current extent of adoption of spatially enabled taxation systems and to identify current provision and uses of valuation data in Australasia. [ABSTRACT FROM AUTHOR]

Copyright of Financial Sciences / Nauki o Finansach is the property of Uniwersytet Ekonomiczny we Wroclawiu 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.)

From time immemorial until the decree of 7 April 1861, all land belonged to the Thai king. This paper explores what this meant in practice, over time. In pre-modern times, land ideally could be inherited, but this could be overruled by the king. Taking and exploiting a piece of land meant that the owner would be registered and taxed. In the Chaophraya Delta, where waterways were the dominant means of water transport, two separate types of housing developed: the house-boat and houses on rafts. The latter form of high-density living on the water was only abandoned in the second half of the nineteenth century. Finally, the question of occupying land is looked at from the perspective of the commoner. [ABSTRACT FROM AUTHOR]

The enactment of Tax Laws Amendment (2006 Measures No 4) Act 2006 (Cth) brought substantial changes to the imposition of Australian tax on capital gains derived by non-resident taxpayers. Supported by concepts embodied in the OECD Model Tax Convention, the rules in Div 855 of the Income Tax Assessment Act 1997 (Cth) introduced the concept of "indirect Australian real property interests" as the basis for imposing tax on capital gains arising from the disposition of interests in entities possessing an economic value attributable to Australian real property. It was a conscious policy initiative that the rules could apply to non-residents disposing of interests in non-Australian vehicles which trace a majority of their value to Australian real property. In this article, the author considers the origins of the rule changes rooted in both domestic case law and Art 13(4) of the OECD Model Tax Convention. The article then considers the efficacy of the revised rules in delineating Australia's imposition of capital gains tax on transactions involving "indirect Australian real property interests". Arising from this consideration, the article challenges the appropriateness of the central design feature of Div 855 which uses a valuation tracing methodology to both identify the object by reference to which taxation is triggered and then to quantify the consequent gain or loss. Finally, and in light of the identified problems, the article addresses the question of whether the jurisdiction to tax which Australia asserts in respect of indirect Australian real property interests may be constrained by its network of double tax agreements. Whilst the author is supportive of the broader policy objective behind Div 855 in improving the attractiveness of Australia as a destination for foreign capital, the conclusion is reached that some of the narrower policy objectives underpinning the so-called "integrity measures" are counterintuitive and that policy-makers have failed to recognise that Art 13(4) of the OECD Model Tax Convention addresses the wrong problem. [ABSTRACT FROM AUTHOR]

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.

The article focuses on the pitfalls being faced by foreign investors in U.S. real property. It says that when the property interest is connected to the U.S. trade of foreign investors, the gains from the sale thereof will be subject to the ordinary income tax rate. It adds the estate and gift taxation of nonresident aliens who have invested in U.S. property, along with rental income taxation. It cites the techniques available to foreign investors which could offer income tax efficiency.

The article reports on the move of the U.S. Congress to pass the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act, which extends higher expensing limits and boosted 100% bonus depreciation. It mentions that the new 100% bonus is applicable to qualified property placed in service after September 8, 2010. It affirms that it applies only to new properties that are not yet used and business-used.

Extensive rural subdivision in the Big Bend began a century ago when seven different promoters tied sales of mainly 40-acre lots to town lots elsewhere in order to promote the sales of the latter. This strategy was generally successful, with large numbers of both Big Bend rural and town lots sold. However, only one of the town subdivisions was ever extensively developed. Big Bend lots were sold cheaply, but were largely without production or resale values. Most original buyers lost their lands to the state or the federal government for unpaid taxes or for public uses; to surrounding ranches; or to rapacious local residents using "trespass to try title" suits, or in paying back taxes owed by the original buyers. However, a significant number of the originally subdivided lots still exist, many owned by descendants of original buyers, and they are likely to survive into the foreseeable future. [ABSTRACT FROM AUTHOR]

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]

The article discusses the author's primer on tax issues for probate and trust litigator and intends to help litigators spot tax issues and assist in properly documenting the resolutions in settlement agreements in the U.S. It states that agreements avoid the unnecessary expense of a trial and may resolve issues between family members that have been going on for many years. The article depicts a story which is relative to this issue.

The article examines the development of cadasters for efficient taxation of real property in Austria between the reigns of emperors Joseph II and Francis I. The author focuses on a tax cadaster introduced in 1819-1821, particularly the administrative processes and procedures introduced to implement and enforce it, and compares it to an earlier version, introduced in 1789. Information on the methods of land surveying and on general tax policy in late 18th- and early 19th-century Austria, as well as an example from Styria, Austria, are also provided.

Abstract: Many countries evade the formal valuation of real property for taxation purposes by using qualitative and spatial criteria in order to pursue an equitable distribution of burden. This paper evaluates the performance of a prototypical setup as such, by analyzing the relationship between property value, household income and the actual tax paid, in the exact framework of which the qualitative criteria are set to determine tax assessment. Drawing on detailed data from the Israeli Household Expenditure Surveys 1997–2005, the strong correlation between the three variables is evident. Yet, the limited differences in rates, compared with large variation in property value, make it regressive. Policy implications are relevant for many other countries using non-ad valorem taxation. [Copyright &y& Elsevier]