Compensating Changes to the Property Tax Levy? An Empirical Test of the Residual Rule

Brien, Spencer T.

doi:10.1177/1091142117700719

Cited by 7 publications

(4 citation statements)

References 19 publications

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“…Th e fi rst means by which a charter can infl uence a county's fi scal health is through an increase in its FPS. FPS refers to the set of parameters or internal arrangements within which government offi cials establish, amend, and implement fi nancial policy (Brien 2014;Hendrick and Crawford 2014;Pagano and Hoene 2010). While local governments have the opportunity to establish their own service programs and revenue policies, these governments are constrained by the state in their capacity to change them.…”

Section: A County Charter As Fpsmentioning

confidence: 99%

“…While community infl uences may determine the resources available to a government, the government's role in the system establishes how those resources are used. Here, the government's role is expected to be a function of its policies and other constraints on its behavior (Brien 2014;Hendrick and Crawford 2014;Pagano and Hoene 2010). Included in this role is the relationship between the county and the state, which outlines the capacity of the local government to adopt, change, and implement policies.…”

Section: A County Charter As Competitionmentioning

confidence: 99%

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Does the Charter Form Improve the Fiscal Health of Counties?

McDonald

2015

Public Administration Review

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The public administration literature has paid attention to the relationship between the structure of a government and its ability to provide public services, reflected by its fiscal health. Although this literature has provided a useful understanding of government structures, it has largely ignored the charter form of government. As a formal written document that grants counties the power of self‐governance, a charter frees the county from state control. Included in this freedom is the ability to establish its own tax policies and services. In this article, the effects of charter adoption on fiscal health are tested using Florida county data from 1980 to 2012. The results show that the presence of a charter can improve the fiscal health of a county, which, in turn, can affect overall service provision.

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Section: A County Charter As Fpsmentioning

confidence: 99%

Section: A County Charter As Competitionmentioning

confidence: 99%

Does the Charter Form Improve the Fiscal Health of Counties?

McDonald

2015

Public Administration Review

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“…In simplest terms, tax levy shows the budget deficit. In other words, it is the difference between the local government's needs and the revenue other than property taxes (which is state transfers, as well as charges), expecting property taxes would compensate the leftover (Brien, 2018). When this is the case, property taxing simply turns to funds raising, rather than formula-based assessments, since it creates a dependency with no substitute, where the United States is one of those countries.…”

Section: Tax Levymentioning

confidence: 99%

Sustainability in Property Taxation: An Application for Revenue Stability and Fairness Perspectives, the City of Buffalo, Ny

Ozmen

2023

International Journal of Strategic Property Management

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The scholarly modeling of property tax has always posed a challenge, with two primary concerns to be addressed: first, maintaining sustainability in the collection, which is primarily a concern for local governments; and second, ensuring fair distribution, which is of greater concern for citizens. In today’s practices, assessment-based property tax increases unmatched expenses in bubble economies. There is a substitution problem in rapid falls, the tendency to not decrease the assessments gives way to black holes and opens the door to ghost cities. This paper proposes alternative approaches, aside from market/land value or last sold price, aimed at improving sustainability and fairness rates. The dataset examined is based on 93.7K records and 88 attributes for assessed value of properties within the City of Buffalo, the United States of America. Since the label (Total Value) is a numerical and continuous value, regression models are selected, where ensemble machine learning methods categorically work well with larger datasets, combined with weak learners, like decision trees. Stacked Ensemble led the least error for regression with 0.98 R2, followed by Gradient Boosting. Results show a 79% dominance of uncontrollable attributes, such as Land Value, Neighborhood, and Sale (last sold) Price, compared to controllable attributes, such as Total Living Area, Construction Grade, Second Story Area, and many others. This article suggests having a more balanced split between uncontrollable and controllable attributes would contribute to both sustainability and fair distribution.

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“…Previous researchers into the charter form have noted that it effectively increases the fiscal policy space (FPS) of the government in question (McDonald, 2015). "FPS" refers to the rules, regulations, and internal arrangements that direct how government officials establish, amend, and implement financial policies (Brien, 2018;Hendrick & Crawford, 2014). The FPS of a government is created by balancing five dimensions: the government's institutional arrangement with the statement, the political culture, the economic base, financial policies, and service provision (Pagano & Hoene, 2010).…”

Section: Chartered Government and Borrowing Costsmentioning

confidence: 99%

Does the charter form lead to lower borrowing costs? Examining the case of California local governments

Kim

McDonald

Shon

2021

Ann Public Coop Econ

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In this paper, we examine the impact of the charter form of government on the borrowing costs of local governments. A substantial amount of research has been undertaken to date in which scholars have investigated the determinants of borrowing costs for governments.However, little research has been conducted hitherto on the impact that the particular form of government -a key issuer characteristic -has on determining its specific borrowing costs. We hypothesized that a chartered government is more likely to be able to reduce its borrowing costs when it is benefiting from the municipal bond market; a government's flexibility and professionalism is desirable. We tested this hypothesis by using city and county government bond data from California that dates from 2003 to 2015. In our findings, we show that the financial flexibility that is afforded by a charter helps local governments to improve their credit ratings and to lower their borrowing costs.

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Compensating Changes to the Property Tax Levy? An Empirical Test of the Residual Rule

Cited by 7 publications

References 19 publications

Does the Charter Form Improve the Fiscal Health of Counties?

Does the Charter Form Improve the Fiscal Health of Counties?

Sustainability in Property Taxation: An Application for Revenue Stability and Fairness Perspectives, the City of Buffalo, Ny

Does the charter form lead to lower borrowing costs? Examining the case of California local governments

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