ERIC Number: ED151119
Record Type: RIE
Publication Date: 1977-Nov
Reference Count: 0
Agriculture and the Property Tax: A Forward Look Based on a Historical Perspective. Agricultural Economic Report No. 392.
Stam, Jerome M.; Sibold, Ann G.
Assessing the property tax in terms of agriculture, this report analyzes the following in an historical sense in order to draw implications for the future: (1) the importance of the property tax to the agricultural sector; (2) the horizontal equity of the property tax for the agricultural and nonagricultural sectors in terms of income and wealth; and (3) some of the internal changes in the agricultural sector which have a bearing on the property taxes paid by that sector. Three key property tax series provide the core data for much of this analysis. Impetus for this study is explained in terms of secular change--relative decline of the agricultural sector; declining role of the property tax; growth of local nonproperty taxes; increased exemption of personal property; increased relief to homeowners; increased use of differential assessment; changes in educational finance. Presented via narrative and tabular data, the analysis deals with: property tax incidence (traditional view, current view, and implications); agricultural-nonagricultural comparisons (income and wealth basis); and internal agricultural sector changes (number of farms, taxable farmland, farm population, value of farmland and buildings, real estate as an input, and farm income). The analysis concludes that the longrun horizontal tax/income ratio inequity of the property tax borne by the agricultural sector is likely to continue. (JC)
Publication Type: Reports - Research
Education Level: N/A
Authoring Institution: Economic Research Service (USDA), Washington, DC.
Note: Not available in hard copy due to marginal legibility of original document; Some tables may not reproduce well due to small print size