PRESIDENT'S MESSAGE

I am pleased to start this month’s newsletter by letting you know that IPTI has just published two important White Papers on its website.

‍

The first White Paper considers “Business Process Modernisation” in relation to valuation agencies; the second looks at the “Valuation of Renewable Energy Properties” which is an important, but challenging, topic.

‍

These two White Papers are the latest publications relating to our “International Collaboration Project” which, as the name suggests, is a project that involves a number of valuation agencies around the world working together to research a range of topics that are of common concern and interest.

‍

Read More

• Property taxes currently generate 70 percent of all local tax revenue, some or all of which would have to be replaced with other taxes under property tax repeal.
• Replacing the property tax with newly granted local taxing authority is exceedingly difficult, because local sales and income tax bases vary widely across jurisdictions; there may, for instance, be no feasible sales tax rate by which an agricultural county or bedroom community could replace its property tax revenue.
• Backfilling forgone local property tax revenue through new state taxes is difficult because it dramatically shifts overall tax burdens, undermines local accountability, and cannot easily adjust for changing population mixes.
• All revenue alternatives are less conducive to economic growth than the existing property tax regime, but some transfer regimes are sharply degrowth.