The Case for Introducing a Property Tax, Collected at Local Government

I propose that an annual residential property levy be introduced and collected at central government for an introductory menses with a view to control being handed over to local anesthetic government and the revenues generated by the assess to be used solely for local publicly provided goods. But for this to be an efficient and effective method of musical accompaniment local authorities and not adversely affect the balances of the exchequer there needs to be an overhaul as to how local authorities argon currently funded and run. Introducing a property tax pull up stakes hopefully radiate the tax base and go some way to overhauling how the tax dodge works in Ireland and how local authorities are funded. Rationale for a residential property tax in IrelandStabilityThere are many reasons in support of a residential property tax. Firstly, it will provide a stable and less volatile income for the exchequer, as is the human face with a transaction such as stamp duty, and generall y cleanse macroeconomic stability. The tax income collected by stamp duty do a huge contribution to the exchequer, but as we can cipher from Fig 1.1, it tended to fluctuate, making it more than difficult to budget long-term and sensitive to market forces, as is the case currently. A recurring annual tax is less economically distortionary than the imposition of tax on either income or capital (TSG 09/07) and a more reliable and stable tax income achieved from a proposed residential property tax would help with investment planning, as an over-reliance on expenditure and transaction taxes has resulted in tax revenue dropping more quickly than (nominal) GNP (Commission on receipts Report 62.2). As we can see from the data contained in the Commission on Taxation Report 2009 (Fig 1.1), revenues from sta... ...t such scenarios and ensure the equitable nature of the tax is keep and serious administration and avoidance problems arise when rates differ betwixt jurisdictions (McDowell 1988).BibliographyResearch PapersMcDowell, M. 1988. University College capital of Ireland, Department of Political Economy. Financing Local regimen The Questionable Viability of a Local Property Tax. Belfield, Dublin 4, Ireland.Gurdgiev, Dr.C. 2009. Trinity College, Dublin. macroeconomic Case for a Land Value Reform in Ireland. Dublin 2, Ireland.ReportsTax Strategy Group. 2009. Property Taxation. Dublin. IrelandCommission on Taxation. 2009. Report 2009. Dublin, Ireland stationary OfficeOnline ResourcesCollins, S. 2011. Property Tax Brought Forward. The Irish Times, 21st December.Available athttp//www.irishtimes.com/newspaper/breaking/2011/1221/breaking6.html