Rethinking Property Taxes

Property taxes are the most important local source of revenue for local governments. It is stable, transparent, and highly visible. Plus, the tax base is immobile. Yet it is also an unpopular tax. Rehabilitating the property tax can be done with two broad strategies that center the interest of taxpayers:

• Provide accurate and fair valuation of tax liability.
• Provide stable, predictable costs to taxpayers.

This report shows how local governments can accomplish these two strategies.