Abstract
Property taxation of both residential and non-residential land and structures is the most common form of wealth taxation worldwide, and is often the revenue instrument of choice for local governments. Despite widespread use of the property tax and a voluminous academic literature examining the tax, its incidence and economic effects are still contentious issues, with the debate centring around whether the capital portion of the tax should be viewed as distorting the allocation of capital or as an efficient benefit tax or user charge for local public services.
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Zodrow, G.R. (2018). Property Taxation. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_1517
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DOI: https://doi.org/10.1057/978-1-349-95189-5_1517
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