Political Science Essays on Property Tax System

Property Tax System Discussion

A property tax is an ad valorem tax levied on real estate properties by the governing authority of a given jurisdiction in which the concerned property is located. Local governments in the US impose property taxes as a principal means of sourcing for revenue. A county-based property tax system encompasses a scenario whereby property taxes regulations are implemented at the county level. A statewide property system on the other hand entails a scenario whereby the jurisdiction over property tax is done at the state level. The following is an analysis of the proposed amendment to the Georgia State Constitution which will replace its current county-based property tax system with a statewide property tax system.

Whether to vote for this amendment

I would not vote for this amendment. This is because property taxes are best taxed at lower jurisdictions such as by the counties, a school district, a local government or even a water district but not by the state. This is because property tax is based on fair market value for a specific property which might vary greatly over different parts of a state.

The factors which are crucial to me when considering this issue include; the methodologies of tax determination which are currently used in the county-based property tax system and whether they are effective, approaches for periodic redeterminations of property value, relationship between the county tax system and state regulations and determination of tax rates and assessment ratios. These factors affect the effectiveness and efficiency of a tax system and hence their careful analysis can help in ascertaining on whether to uphold a county based tax system or go for a statewide tax system. A county based property tax system would be more effective and efficient than a statewide one.