Description: This book reviews the role of the property tax, addresses the reasons behind its poor performance in practice, and critiques the conventional wisdom in academic literature on the subject. It also suggests ways for government officials to achieve greater voter confidence and more robust property tax systems through key policy and administrative reforms.
Review Quotes: "The conventional wisdom is that the property tax is a desirable tax from both efficiency and distributional standpoints; has significant (albeit often unexploited) revenue potential; and is an instrument of choice to finance local governments. This book presents a number of carefully argued challenges to such "wisdom." I found the book thought-provoking and very well documented. I agree with the thrust of its message: property taxes can be efficient and equitable, but only if their sound design is complemented with their transparent administration, based on modern valuation and enforcement techniques."--Teresa Ter-Minassian, International Economic Consultant and Former Director, Fiscal Affairs, International Monetary Fund