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Paper eres2004_200:
Local Government Domestic Taxes in Great Britain. Drawing on the Australian Model

id eres2004_200
authors Reed, Richard; Hughes, Cathy
year 2004
title Local Government Domestic Taxes in Great Britain. Drawing on the Australian Model
source 11th European Real Estate Society Conference (2-5 June 2004) Milano, Italy
summary Property taxes are an important source of local gove rnment finance in many western countries. Such taxes are primarily based on value although differ widely in the basis and method of valuation used. The Council Tax is the system in Great Britain of taxing residential property for local government finance and is based on capital value. The system has come under increasing criticism from those who want to reform the Council Tax system to remove inequities and to ensure that domestic property taxes are seen as fair. The UK government has announced a Council Tax revaluation to come into effect in 2007 for England; this is the first revaluation since 1991. The domestic property tax system in the Australian state of Victoria has been through major reforms to improve the credibility and fairness of the system and is perceived as successful in accomplishing this task. This paper compares the two systems. It focuses on the frequency of revaluations, the processes involved, the use of computer technology and mapping programs, as well as the privatisation of the valuation task. From this comparison it draws conclusions and makes recommendations for the way forward in the UK.
keywords Rating valuation; frequency; computer technology; transparency
series ERES:conference
discussion No discussions. Post discussion ...
session Market & Tax Regulation
last changed 2008/12/21 10:41
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