scholarly journals PROPERTY TAX AS A TOOL FOR FINANCIAL REGULATION OF PUBLIC WELFARE

2020 ◽  
pp. 40-50
Author(s):  
Vasyl DEMIANYSHYN ◽  
Volodymyr HORYN
Keyword(s):  
Real Estate ◽  
Property Tax ◽  
Scientific Research ◽  
Public Welfare ◽  
Inclusive Development ◽  
Social Aspects ◽  
Estate Tax ◽  
The Social ◽  
Real Estate Tax ◽  
The Impact

Introduction. With the approval of the concept of inclusive development, the demand for scientific research aimed at finding ways to implement it in financial practice is growing, which will have a positive impact on indicators of public welfare. In this context, an important task is to ensure the integration of the principles of inclusive development into the practice of property taxation, which will ensure an increase in its efficiency and fairness. The purpose is to reveal the social aspects of property tax, including assessing the compliance of the tax collection mechanism with the principles of fairness and inclusiveness of taxation, as well as the impact of property tax on the welfare of payers, taking into account their differentiation by the level of personal income. Methods. In the article, when studying the social aspects of levying property tax, general scientific and special methods are applied, namely, generalization, comparison, grouping, tabular analysis. Results. It has been substantiated that property tax has a varied effect on public welfare, acting as a tool for ensuring the redistribution of wealth between various social groups, attracting shadow incomes to taxation, withdrawn from it thanks to schemes to minimize tax liabilities, an instrument for curbing speculation in the housing market, as well as an important source of budget revenues, which are largely directed to social goals. It has been proven that in domestic practice, real estate tax has a pronounced regressiveness and discriminatory nature in relation to payers with lower incomes. Real estate tax rates are too low, which is more beneficial for wealthy citizens and leads to losses in local budget revenues. This made it possible to argue the advisability of switching to a cost approach to determining the tax base, but only available within an appropriate institutional environment. Perspectives. Further scientific research should be directed towards finding the optimal approach to establishing the base of real estate, as well as ensuring the inclusiveness of taxation, when opportunities for tax evasion will be minimized.

Die Vermögensteuer – Ein Comeback in der Krise?

2013 ◽  
Vol 62 (2) ◽  
Author(s):  
Thomas Gambke
Keyword(s):  
Real Estate ◽  
Property Tax ◽  
Green Party ◽  
Estate Tax ◽  
Inheritance Tax ◽  
Real Estate Tax ◽  
Public Debts

AbstractThis article describes the concept of a property levy („Vermögensabga be“) of the German Green Party in the context of other property related taxes such as real estate tax and inheritance tax. It explains the advantages of a property levy in contrast to a property tax. Moreover, the necessity to reduce public debts and to stop the unabated evolution of unequal property is outlined.

scholarly journals THE LITHUANIAN REAL ESTATE TAXATION SYSTEM IN THE CONTEXT OF ALIEN COUNTRIES

2005 ◽  
Vol 9 (1) ◽  
pp. 17-32 ◽  
Author(s):  
Vida Maliene ◽  
Daiva Cibulskiene ◽  
Virginija Gurskiene
Keyword(s):  
Real Estate ◽  
The United States ◽  
Real Estate Market ◽  
Tax Reforms ◽  
Estate Tax ◽  
The Real Estate ◽  
Estate Taxation ◽  
Real Estate Tax ◽  
Taxation System ◽  
The Impact

The article aims at investigating the Lithuanian real estate taxation system in the context of the taxation system of the United States of America and European countries. The article dwells on the current situation in Lithuania; it introduces the advantages and drawbacks of the system and produces a comparative analysis as against alien countries. Proposals for the refinement of the Lithuanian real estate taxation system are presented on the grounds of the analysis results and alien experience. The article considers real estate tax base, analyses currently actualized tax reforms, and describes the impact of the changes on the real estate market. A number of principal features of real estate tax system commonly intrinsic to all considered countries, such as form of payment, basis of valuation, tax exemption, appeals, tax deductions, are discussed in the article. Analizuojama dabartine bei planuojama priimti nauja nekilnojamojo turto apmokestinimo sistema Lietuvoje, aiškinami naujai siūlomos sistemos privalumai ir trūkumai, atliekama JAV ir Europos šaliu lyginamoji analize. Remiantis gautais analizes rezultatais bei užsienio patirtimi, pateikiami siūlymai Lietuvos nekilnojamojo turto apmokestinimo sistemai tobulinti. Analizuojama nekilnojamojo turto mokesčiu baze, nagrinejamos šiuo metu Igyvendinamos mokesčiu reformos, vertinamas pasikeitimu poveikis nekilnojamojo turto rinkai. Pateikiama keletas pagrindiniu bendru visoms nagrinejamoms šalims nekilnojamojo turto mokesčiu sistemos aspektu ‐ mokejimo pobūdis, vertinimo apmokestinimo tikslais pagrindas, atleidimas nuo mokesčiu, apskundimo galimybes, lengvatos.

FINANCIAL IMPACT OF REAL ESTATE TAX ON LOCAL GOVERNMENT TAX REVENUE

2019 ◽  
pp. 35
Author(s):  
Anita Kriviņa
Keyword(s):  
Local Government ◽  
Real Estate ◽  
Local Governments ◽  
Financial Impact ◽  
Tax Revenue ◽  
Tax Administration ◽  
Estate Tax ◽  
The Real Estate ◽  
Real Estate Tax ◽  
The Impact

The real estate tax is one of the direct taxes administered by municipalities and it is the only one tax in Latvia that is fully credited to the local government budget. The research object of the article is the financial impact of real estate tax on budgets tax revenue of local governments. The aim of the research is to analyse the impact of real estate tax revenue on municipal budget in the administration context of tax expenditure. In the frames of the research following hypothesis was formulated - real estate tax has a relatively small impact on revenue of municipal budget, but it has relatively high administration costs. In order to analyse the financial impact, it was researched the expenses of real estate tax administration. As the basis for the study the estimated and actual tax administration expenses of one municipality was used.

scholarly journals The Impact of the Training Set Size on the Classification of Real Estate with an Increased Fiscal Burden

2019 ◽  
Vol 27 (2) ◽  
pp. 53-62
Author(s):  
Sebastian Gnat
Keyword(s):  
Real Estate ◽  
Training Data ◽  
Tax Burden ◽  
Ad Valorem Tax ◽  
Data Set ◽  
Estate Tax ◽  
Real Estate Tax ◽  
The Impact ◽  
Ad Valorem

Abstract The introduction of an ad valorem tax can lead to an increase in the tax burden on real estate. There are concerns that this increase will be large and widespread. Before undertaking any actual actions related to the real estate tax reform, pilot studies and statistical analyses need to be conducted in order to verify the validity of those concerns and other aspects regarding the replacement of a real estate tax, agricultural tax and forest tax with an ad valorem tax. The article presents results of research on the effectiveness of the classification of real estate into a group at risk of an increase of tax burden with the use of the k-nearest neighbors method. The main focus was to determine the size of a real estate set (training data set) on the basis of which classification is conducted, as well as on the efficiency of that classification, depending on the size of such data set.

scholarly journals Economic Effects Real Estate Tax

ECONOMICS ◽  
2016 ◽  
Vol 4 (1) ◽  
pp. 137-150
Author(s):  
Milan Tadić
Keyword(s):  
Real Estate ◽  
Property Tax ◽  
Economic Effects ◽  
Real Property ◽  
Tax Base ◽  
Estate Tax ◽  
Tax Rate ◽  
The Real ◽  
The Real Estate ◽  
Real Estate Tax

Summary The real estate tax is usually a fiscal instrument which performs the property tax. When it comes to real property or immovable this term include: apartments, houses, land, cottages, excess housing landscape and more. The real estate tax as a form of the fiscal charges ownership or use of certain forms of real estate, and the revenue from this tax is levied on the area where the property is located regardless of the place of residence of its owner. The tax base for the calculation of this tax usually consists of the market, estimated or annuity value of certain real estate. This form of taxation in the Republic of Serbian applies from 1.1.2012., and its introduction has been replaced by former property taxes. The differences between the two concepts mentioned taxes are numerous and significant. Among the more important are: subject to taxation under the new concept of the real estate rather than law, a taxpayer is any property owner rather than the holder of rights to immovable property tax base is the market value of real estate which is replaced by the payment of taxes per square meter of usable area, the rate of property tax is determined local government, which can not be lower than 0.05% of the estimated value of the real estate nor higher than 0.5% of the appraised value of real estate. The last change, ie. The new law on Property Tax from 5.11.2015. was determined by the tax rate to 20%. The fact that local governments each of them determines the tax rate on real estate which range from high to low rates of multiple, makes this tax is progressive. Progression is particularly expressed in the distinction applied tax rates of developed and undeveloped municipalities, where we have a case that less developed tolerate a higher tax burden, which leads to negative economic effects. However, real estate tax has its own economic and social characteristics which must be aligned with the objectives of tax policy. This means that the real estate tax should be considered from the standpoint of the entire tax system and not from the standpoint of individual income tax forms.

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