Property Tax Responses to State Aid Cuts: Lessons from the Post-2001 State Fiscal Crisis

[Jesse Mintz-Roth]

Lincoln Institute lecture you may be interested in..

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Date: Feb 1, 2008 6:00 PM
Subject: Upcoming Lecture at the Lincoln Institute
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02/01/2008 Announcing a Lincoln Lecture: Lecture:  Property Tax Responses to State Aid Cuts: Lessons from the Post-2001 State Fiscal Crisis Date:  Wednesday, February 6th at 12 p.m. Location:  Lincoln House - 113 Brattle Street, Cambridge, MA 02138 Overview: Many states experienced a serious fiscal crisis at the beginning of this decade caused in large part by declines in state tax revenues. Some responded to the resulting budgetary shortfalls by cutting state aid to municipal governments and school districts. This lecture is based on a paper, "Property Tax Responses to State Aid Cuts in the Recent Fiscal Crisis," co-authored by Lincoln Institute visiting fellows Andrew Reschovsky and Richard Dye. This paper explores the extent to which local governments responded to these cuts in state aid by raising property taxes. The authors hypothesize that changes in state aid help explain the observed differences in per capita property tax revenue changes across states. The results are strongest for school districts. The authors find that on average local school districts increased property taxes on the order of 25 cents for each one dollar cut in state aid. These results highlight the important role that the property tax plays in maintaining the stability of the state and local sector. Speaker: Andrew Reschovsky is professor of public affairs and applied economics in the La Follette School of Public Affairs at the University of Wisconsin-Madison. His research focuses on tax policy and intergovernmental fiscal relations. He is currently serving as a visiting fellow in the Department of Valuation and Taxation at the Lincoln Institute of Land Policy, where he is studying issues concerning property taxation and local government finance. Registration: The event is free, but pre-registration is required. Contact he...@lincolninst.edu or call (617) 661-3016 ext. 127 to register and for directions. Register online. Parking is not available at Lincoln House.