Use-Value Assessment of Rural Lands - Time for Reform?

John E. Anderson,Richard W. England

Use-Value Assessment of Rural Lands - Time for Reform?
Format
Paperback
Publisher
Lincoln Institute of Land Policy
Country
United States
Published
21 August 2020
Pages
48
ISBN
9781558443396

Use-Value Assessment of Rural Lands - Time for Reform?

John E. Anderson,Richard W. England

Use-value assessment (UVA) is the practice of valuing rural land according to its current use rather than its market value to reduce property taxes for rural land owners in the United States. This tax preference amounts to tens of billions of dollars annually.Originally created to slow the loss of farms, ranches, and forestland caused by urbanization, the reality is that UVA is a blunt policy instrument that provides tax benefits to all eligible landowners, with very little impact on the number of acres being developed. UVA undermines the integrity of the property tax system as a mechanism to fund local public goods and services. Eligibility requirements are often lax, withdrawal penalties are mild or nonexistent, and assessment methods are subject to biased manipulation. Fundamentally, UVA programs are not fulfilling their intended purposes.This report describes the history and design features of state UVA programs, explains the theoretical underpinnings of land valuation, and surveys empirical studies of UVA implementation and impacts.It also identifies the weaknesses of UVA programs and proposes the following set of policy reforms to make the programs more effective and fair:Design eligibility rules to ensure that only parcels serving UVA statutory goals can participate.Adopt state guidelines for assessors that provide accurate UVA estimation methods.Create appropriate penalty provisions for land removed from rural or agricultural use.Restructure UVA programs to reduce tax inequities and provide valuable benefits to society as a whole.This report was preceded by the book Use-Value Assessment of Rural Land in the United States, published in 2014.

This item is not currently in-stock. It can be ordered online and is expected to ship in approx 4 weeks

Our stock data is updated periodically, and availability may change throughout the day for in-demand items. Please call the relevant shop for the most current stock information. Prices are subject to change without notice.

Sign in or become a Readings Member to add this title to a wishlist.