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How Do Cities and Counties Respond to Changes in Their Property Tax Base?

Author

Listed:
  • Ihanfeldt, Keith

    (Florida State University)

Abstract

Over the past decade, the per capita property tax bases of local governments have experienced large upward and downward movements as the result of the boom and bust in real estate markets. This paper provides some evidence on how local governments balance their budgets as their tax base changes. The results suggest that millage rates are adjusted in an attempt to stabilize property tax revenues. The millage rate offset is nearly complete for counties, but less than complete for cities. Cities alter selected expenditures to keep total expenditures in line with total revenues.

Suggested Citation

  • Ihanfeldt, Keith, 2011. "How Do Cities and Counties Respond to Changes in Their Property Tax Base?," The Review of Regional Studies, Southern Regional Science Association, vol. 41(1), pages 27-48, Summer.
    • Handle: RePEc:rre:publsh:v:41:y:2011:i:1:p:27-48
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    File URL: http://journal.srsa.org/ojs/index.php/RRS/article/download/46/206
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    More about this item

    Keywords

    local government budgets; property tax base;

    JEL classification:

    • H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government
    • H72 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Budget and Expenditures

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