Rick [Rick Rybeck, director of Just Economics, Washington, D.C. ([email protected]), is a former transportation and public revenue specialist with the District of Columbia government] and Walt Rybeck explain in the current issue of PM, the magazine of the International City/County Management Association in Washington DC, that how property taxes are levied can transform Town Hall finances and boost economic recovery.
“Traditional property tax incentives are upside-down”, they argue. “They impose higher taxes on owners who construct or improve homes and commercial structures. They reduce taxes for owners whose buildings deteriorate. Owners of boarded-up buildings and vacant lots typically pay lower taxes than owners of well-maintained properties.”
Re-Solving the Economic Puzzle
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