Impact of Tax and Expenditure Limits on Local Government Use of Tax-supported Debt-Reference-Cited by-同舟云学术

Impact of Tax and Expenditure Limits on Local Government Use of Tax-supported Debt

Published:2017-08-10 Issue:2 Volume:47 Page:409-432
ISSN:1091-1421
Container-title:Public Finance Review
language:en
Short-container-title:Public Finance Review

Author:

Kioko Sharon N.¹,Zhang Pengju²

Affiliation:

1. Daniel J. Evans School of Public Policy and Governance, University of Washington, Seattle, WA, USA

2. School of Public Affairs and Administration, Rutgers, The State University of New Jersey, Newark, NJ, USA

Abstract

This study seeks to broaden our understanding of the impact tax and expenditure limits (TELs) have had on local governments. We chose to focus on local government use of tax-supported debt as TELs are limits on the property tax base and related revenues, two essential components used to determine a government’s legal authority to issue tax-supported debt and its fiscal capacity to maintain long-term solvency. Using county-level data, our analysis finds TELs have a negative impact on local government use of tax-supported debt, especially if the government is subject to a limitation on assessed valuation or the property tax levy.

Publisher

SAGE Publications

Subject

Public Administration,Economics and Econometrics,Finance

Link

http://journals.sagepub.com/doi/pdf/10.1177/1091142117723706

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