Tax Incentives To Assist Distressed Communities

Author : United States. Congress. House. Committee on Ways and Means. Subcommittee on Oversight
Publisher :
ISBN 13 :
Total Pages : 112 pages
Book Rating : 4.23/5 ( download)

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Download or read book Tax Incentives to Assist Distressed Communities written by United States. Congress. House. Committee on Ways and Means. Subcommittee on Oversight and published by . This book was released on 2001 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : United States. Congress. House. Committee on Ways and Means
Publisher :
ISBN 13 :
Total Pages : 750 pages
Book Rating : 4.60/5 ( download)

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Download or read book Tax Incentives Targeted to Distressed Areas written by United States. Congress. House. Committee on Ways and Means and published by . This book was released on 1984 with total page 750 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author :
Publisher :
ISBN 13 :
Total Pages : 324 pages
Book Rating : 4.59/5 ( download)

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Download or read book The States and Distressed Communities written by and published by . This book was released on 1985 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Daphne A. Kenyon
Publisher :
ISBN 13 : 9781558442337
Total Pages : 0 pages
Book Rating : 4.32/5 ( download)

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Download or read book Rethinking Property Tax Incentives for Business written by Daphne A. Kenyon and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The use of property tax incentives for business by local governments throughout the United States has escalated over the last 50 years. While there is little evidence that these tax incentives are an effective instrument to promote economic development, they cost state and local governments $5 to $10 billion each year in forgone revenue. Three major obstacles can impede the success of property tax incentives as an economic development tool. First, incentives are unlikely to have a significant impact on a firm's profitability since property taxes are a small part of the total costs for most businesses--averaging much less than 1 percent of total costs for the U.S. manufacturing sector. Second, tax breaks are sometimes given to businesses that would have chosen the same location even without the incentives. When this happens, property tax incentives merely deplete the tax base without promoting economic development. Third, widespread use of incentives within a metropolitan area reduces their effectiveness, because when firms can obtain similar tax breaks in most jurisdictions, incentives are less likely to affect business location decisions. This report reviews five types of property tax incentives and examines their characteristics, costs, and effectiveness: property tax abatement programs; tax increment finance; enterprise zones; firm-specific property tax incentives; and property tax exemptions in connection with issuance of industrial development bonds. Alternatives to tax incentives should be considered by policy makers, such as customized job training, labor market intermediaries, and business support services. State and local governments also can pursue a policy of broad-based taxes with low tax rates or adopt split-rate property taxation with lower taxes on buildings than land.State policy makers are in a good position to increase the effectiveness of property tax incentives since they control how local governments use them. For example, states can restrict the use of incentives to certain geographic areas or certain types of facilities; publish information on the use of property tax incentives; conduct studies on their effectiveness; and reduce destructive local tax competition by not reimbursing local governments for revenue they forgo when they award property tax incentives.Local government officials can make wiser use of property tax incentives for business and avoid such incentives when their costs exceed their benefits. Localities should set clear criteria for the types of projects eligible for incentives; limit tax breaks to mobile facilities that export goods or services out of the region; involve tax administrators and other stakeholders in decisions to grant incentives; cooperate on economic development with other jurisdictions in the area; and be clear from the outset that not all businesses that ask for an incentive will receive one.Despite a generally poor record in promoting economic development, property tax incentives continue to be used. The goal is laudable: attracting new businesses to a jurisdiction can increase income or employment, expand the tax base, and revitalize distressed urban areas. In a best case scenario, attracting a large facility can increase worker productivity and draw related firms to the area, creating a positive feedback loop. This report offers recommendations to improve the odds of achieving these economic development goals.

Author : James Edward Maule
Publisher :
ISBN 13 : 9781558719200
Total Pages : pages
Book Rating : 4.02/5 ( download)

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Download or read book Tax Incentives for Economically Distressed Areas written by James Edward Maule and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: ... brings together in one place analyses of the many income tax provisions designed to encourage business activity and investment in economically distressed areas. The portfolio separates the analyses into four categories. The portfolio also presents a history of the provisions as they have been added, expanded, and modified.

Author : United States. Congress. House. Committee on Ways and Means. Subcommittee on Oversight
Publisher :
ISBN 13 :
Total Pages : 108 pages
Book Rating : 4.97/5 ( download)

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Download or read book Tax Incentives to Assist Distressed Communities written by United States. Congress. House. Committee on Ways and Means. Subcommittee on Oversight and published by . This book was released on 2001 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Timothy J. Bartik
Publisher : W.E. Upjohn Institute
ISBN 13 : 0880996684
Total Pages : 180 pages
Book Rating : 4.86/5 ( download)

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Download or read book Making Sense of Incentives written by Timothy J. Bartik and published by W.E. Upjohn Institute. This book was released on 2019-10-15 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bartik provides a clear and concise overview of how state and local governments employ economic development incentives in order to lure companies to set up shop—and provide new jobs—in needy local labor markets. He shows that many such incentive offers are wasteful and he provides guidance, based on decades of research, on how to improve these programs.

Author :
Publisher :
ISBN 13 :
Total Pages : 16 pages
Book Rating : 4.01/5 ( download)

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Download or read book ADA Tax Incentives Packet written by and published by . This book was released on 2001 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author :
Publisher :
ISBN 13 :
Total Pages : 116 pages
Book Rating : 4.90/5 ( download)

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Download or read book Tax Incentive Guide for Businesses in the Renewal Communities, Empowerment Zones, and Enterprise Communities written by and published by . This book was released on with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Timothy J. Bartik
Publisher : W.E. Upjohn Institute
ISBN 13 : 0880993723
Total Pages : 439 pages
Book Rating : 4.22/5 ( download)

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Download or read book Investing in Kids written by Timothy J. Bartik and published by W.E. Upjohn Institute. This book was released on 2011 with total page 439 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents arguments for the following propositions: Local economic development strategies in the United States should include extensive investments in high quality early childhood programs, such as prekindergarten (pre K) education, child care, and parenting assistance. Economic development policies should also include reforms in business tax incentives. But economic development benefitsChigher earnings per capita in the local communityCcan be better achieved if business incentives are complemented by early childhood programs. Economic development benefits can play an important role in motivating a grassroots movement for investing in our kids.