Property Taxation, Property Base, and Property Value: An Empirical

“Benefit ” Views of property taxation yield different predictions in regard to the ef-fects of property taxation, An empirical test for evidence on the predicted effects of the New View is given. Results support the New View and indicate that ( ‘7) the greater the positive differential between a city’s rate of property taxation and the nation’s average rate, the smaller the amount of capital in the city and the smaller the per-unit market value of its property tax base; and (2) the higher the average rate of property taxation in the country, the lower the return to all prop-erty. Simulations regarding revenue alter-natives vided. to the PweQ tax are a/so pro