Property Taxes and Tax Revolts by Arthur O'Sullivan, Terri A.... - 9780521035996

Property Taxes and Tax RevoltsThe Legacy of Proposition 13\nAuthor(s): Arthur O'Sullivan, Terri A. Sexton, Steven M. Sheffrin\nFormat: Paperback\nPublisher: Cambridge University Press, United Kingdom\nImprint: Cambridge University Press\nISBN-13: 9780521035996, 978-0521035996\nSynopsis\nProperty tax revolts have occurred both in the United States and elsewhere. This book examines the causes and consequences of such revolts with a special focus on the California experience with Proposition 13. The work examines the consequences of property tax limitations for public finance with a detailed analysis of the tax system put into place in California. Theoretical approaches and evidence from a comprehensive empirical study are used to highlight the equity and efficiency of property tax systems. Since property taxes are the primary source of revenue for local governments, the book compares and contrasts the experiences of several states with regard to the evolution of local government follow.