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63 posts
States are Talking About the Wrong Kind of Property Tax Cuts
May 11, 2023 • By Brakeyshia Samms, Carl Davis
Concerns over property tax affordability have been at the forefront this year as housing prices have climbed and property tax bills have often increased along with them. As lawmakers mull a range of property tax cuts, circuit breakers are the best possible approach—and these policies are receiving far too little attention in the states.
State Lawmakers Should Break the 2023 Tax Cut Fever Before It’s Too Late
January 18, 2023 • By Miles Trinidad
Despite mixed economic signals for 2023, including a possible recession, many state lawmakers plan to use temporary budget surpluses to forge ahead with permanent, regressive tax cuts that would disproportionately benefit the wealthy at the expense of low- and middle-income households. These cuts would put state finances in a precarious position and further erode public investments in education, transportation and health, all of which are crucial for creating inclusive, vibrant communities where everyone, not just the rich, can achieve economic security and thrive. In the event of an economic downturn, these results would be accelerated and amplified.
Tax Foundation’s ‘State Business Tax Climate Index’ Bears Little Connection to Business Reality
October 31, 2022 • By Carl Davis, Matthew Gardner
The big problem with the Index is that it peddles a solution that not only falls short of the goal of generating business investment, but one that actively harms state lawmakers’ ability to provide the kinds of public goods – like good schools and modern, efficient transportation networks – that businesses need and want.
Racial Discrimination in Home Appraisals Is a Problem That’s Now Getting Federal Attention
March 31, 2022 • By Brakeyshia Samms
With both assessments and appraisals being unfair, homeowners of color are stuck between a rock and a hard place when it comes to determining the worth of what is, for most homeowners, their most valuable asset.
The Pendulum Is Swinging Toward Tax Justice
January 5, 2022 • By ITEP Staff, Jenice Robinson, Kamolika Das
Tax justice is deeply connected to the movements for equality and racial justice. Progressive tax policy can ensure more of us share in the prosperous economy that our collective tax dollars make possible. It can mitigate economic disparities by class and race. And it can make sure the government has the resources it needs to function for all of us.
New Census Data Highlight Need for Permanent Child Tax Credit Expansion
September 14, 2021 • By Neva Butkus
The status quo was a choice, but the Census data released today shows that different policy choices can create drastically different outcomes for children and families. It is time for our state and federal legislators to put people first when it comes to recovery.
Why Local Governments Need an Anti-Racist Approach to Property Assessments
August 5, 2021 • By Ambika Sinha
Property taxes are among the oldest and most relied upon form of local taxes. Revenue raised from these taxes funds education, firefighting, law enforcement, street and infrastructure maintenance, and other essential services. Though all members of the community enjoy these public goods, homeowners of color, especially Black families, pay more as a share of home value in property taxes than their white counterparts.
Gentrification and the Property Tax: How Circuit Breakers Can Help
April 27, 2021 • By David Crawford
Property tax circuit breakers are effective because they provide property tax relief to families whose property taxes surpass a certain percentage of their income. If a family in a gentrifying area sees their property tax bill (or their rent) surge to an unaffordable level, a circuit breaker credit kicks in to offer relief. This targeted approach assists low- and middle-income families without significantly reducing overall tax revenue.
After the Dust Has Settled: How Progressive Tax Policy Fared in the General Election
November 30, 2020 • By Marco Guzman
While the results of the 2020 presidential election are all but set in stone—and a sign of life for progressive policy—the results of state tax ballot initiatives are more of a mixed bag. However, the overall fight for tax equity and raising more revenue to invest in people and communities is trending in the right direction.
Voters Have the Chance in 2020 to Increase Tax Equity in Arizona, Illinois, and California, And They Should
October 22, 2020 • By Marco Guzman
There’s a lot at stake in this election cycle: the nation and our economy are reeling from the effects brought on by the coronavirus pandemic and states remain in limbo as they weigh deep budget cuts and rush to address projected revenue shortfalls.
Californians are voting now on Proposition 15, which would require commercial and industrial property worth $3 million or more to be taxed based on an up-to-date assessment of full market value. Proposition 15 is sound tax policy that would raise much needed revenue and help to advance racial and economic justice.
One Tax System for Most Americans, and a Second System for the Wealthiest
August 16, 2019 • By Matthew Gardner
Last year, the Walton family's fortune grew by $100 million a day. This level of wealth is particularly obscene in the context of the Walmart Corporation’s dark store strategy. The company works nationwide to reduce its property tax assessments, which, when successful, deprives local communities of revenue necessary to fund education, libraries, parks, public health and other services.
The Montana Senate this week stopped a bill to restructure the state's temporary tribal tax exemption program, making tribal governments the only sovereignties on which Montana levies a tax and making it more difficult for leaders to buy back illegally seized land. Still, the success of the bill in the House is troubling.
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