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Peter Tomlinson - One of the best experts on this subject based on the ideXlab platform.
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what gets measured gets managed the economic burden of Business Property taxes
Social Science Research Network, 2013Co-Authors: Adam Found, Benjamin Dachis, Peter TomlinsonAbstract:Business Property taxes are a major part of the tax burden on new Business investment that can tip the balance in the competition for capital among Canadian cities and provinces, according to a report released today by the C.D. Howe Institute. In “What Gets Measured Gets Managed: The Economic Burden of Business Property Taxes,” authors Adam Found, Benjamin Dachis, and Peter Tomlinson conduct groundbreaking research into the impact of Business Property taxes (BPTs) in localities across Canada and show where they are highest and lowest.
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what gets measured gets managed the economic burden of Business Property taxes
Research Papers in Economics, 2013Co-Authors: Adam Found, Benjamin Dachis, Peter TomlinsonAbstract:What is the total tax burden on a new in vestment? It’s a question Businesses must ask when deciding whether to invest in a given locality. The METR, or marginal effective tax rate, measures the tax total burden on a new investment. The METR can make or break a decision to invest, with high METRs driving investment elsewhere. Ho wever, current METR estimates are incomplete. They do not include an important component of the overall tax system: Business Property taxes (BPTs). By analyzing provincial BPTs, we find METRs are substantially higher than previously thought, especially in New Brunswick, Prince Edward Island, Ontario, and Saskatchewan. By measuring the extent to w hich municipal BPT rates exceed residential rates in the largest city in each province, we find net municipal BPTs have the largest effect on METRs in Montreal, Halifax, St. John’s, and Charlottetown.
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hiding in plain sight the harmful impact of provincial Business Property taxes
C.D. Howe Institute Commentary, 2012Co-Authors: Adam Found, Peter TomlinsonAbstract:When governments analyze tax policies aimed at attracting investment, they typically rely on a variable called the marginal effective tax rate (METR) on capital. The METR is a measure of the effective tax burden on new Business investment. Recent Ontario budgets have presented estimates of the METR, while emphasizing the economic benefit of reducing taxes included in these estimates. This Commentary makes the case that METR estimates have so far underestimated the actual tax burdens that investors face, because they exclude a major tax on Businesses: provincial Business Property taxes. Excluding these taxes means that provinces do not adequately recognize the economic benefit of reducing them. Provincial governments in Ontario, Alberta and British Columbia, the three provinces we consider, now hold the taxing power once held by school boards. This power shift has transformed the Business education tax (BET). When school boards controlled the BET, it combined – at least potentially – two separate taxes: a benefit tax financing local schools and a tax on capital investment. Provincial takeovers have since eliminated any benefit tax component. From the standpoint of investors, Business education taxes – despite their obsolete name – are now simply provincial Business Property taxes. We find that including the BET adds substantially to METR estimates in Ontario. The impact of the BET on British Columbia’s METR appears to be somewhat less than the impact in Ontario, while the impact on Alberta’s METR appears substantially less. The BET’s substantial impact on Ontario’s METR lends strong support to the case for parity between Business and residential education tax rates. We estimate that if the BET rate were reduced to parity with the residential education tax (RET) rate, its METR impact would be much smaller. Even an announcement that BET/RET rate parity is to be attained in 15 years would immediately reduce the METR impact of BET due to the effect on investor expectations. As a start, governments should include the BET in published METR estimates, such as the estimates published routinely in Ontario budgets. Leaving out the BET means missing a large part of the tax burden investors pay. It thus leads governments to underestimate the negative impacts on investment stemming from their tax systems, and it causes governments to defer – perhaps indefinitely – tax reforms needed to mitigate those negative impacts.
Adam Found - One of the best experts on this subject based on the ideXlab platform.
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flying below the radar the harmful impact of ontario s Business Property tax
e-briefs, 2017Co-Authors: Adam FoundAbstract:Ontario should abolish its harmful Business Property tax to remove an invisible, heavy burden on Business, according to a report from the C.D. Howe Institute. In “Flying Below the Radar: The Harmful Impact of Ontario’s Business Property Tax,” author Adam Found assesses the damage the tax does to Business investment and the broader Ontario economy.
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what gets measured gets managed the economic burden of Business Property taxes
Social Science Research Network, 2013Co-Authors: Adam Found, Benjamin Dachis, Peter TomlinsonAbstract:Business Property taxes are a major part of the tax burden on new Business investment that can tip the balance in the competition for capital among Canadian cities and provinces, according to a report released today by the C.D. Howe Institute. In “What Gets Measured Gets Managed: The Economic Burden of Business Property Taxes,” authors Adam Found, Benjamin Dachis, and Peter Tomlinson conduct groundbreaking research into the impact of Business Property taxes (BPTs) in localities across Canada and show where they are highest and lowest.
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what gets measured gets managed the economic burden of Business Property taxes
Research Papers in Economics, 2013Co-Authors: Adam Found, Benjamin Dachis, Peter TomlinsonAbstract:What is the total tax burden on a new in vestment? It’s a question Businesses must ask when deciding whether to invest in a given locality. The METR, or marginal effective tax rate, measures the tax total burden on a new investment. The METR can make or break a decision to invest, with high METRs driving investment elsewhere. Ho wever, current METR estimates are incomplete. They do not include an important component of the overall tax system: Business Property taxes (BPTs). By analyzing provincial BPTs, we find METRs are substantially higher than previously thought, especially in New Brunswick, Prince Edward Island, Ontario, and Saskatchewan. By measuring the extent to w hich municipal BPT rates exceed residential rates in the largest city in each province, we find net municipal BPTs have the largest effect on METRs in Montreal, Halifax, St. John’s, and Charlottetown.
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hiding in plain sight the harmful impact of provincial Business Property taxes
C.D. Howe Institute Commentary, 2012Co-Authors: Adam Found, Peter TomlinsonAbstract:When governments analyze tax policies aimed at attracting investment, they typically rely on a variable called the marginal effective tax rate (METR) on capital. The METR is a measure of the effective tax burden on new Business investment. Recent Ontario budgets have presented estimates of the METR, while emphasizing the economic benefit of reducing taxes included in these estimates. This Commentary makes the case that METR estimates have so far underestimated the actual tax burdens that investors face, because they exclude a major tax on Businesses: provincial Business Property taxes. Excluding these taxes means that provinces do not adequately recognize the economic benefit of reducing them. Provincial governments in Ontario, Alberta and British Columbia, the three provinces we consider, now hold the taxing power once held by school boards. This power shift has transformed the Business education tax (BET). When school boards controlled the BET, it combined – at least potentially – two separate taxes: a benefit tax financing local schools and a tax on capital investment. Provincial takeovers have since eliminated any benefit tax component. From the standpoint of investors, Business education taxes – despite their obsolete name – are now simply provincial Business Property taxes. We find that including the BET adds substantially to METR estimates in Ontario. The impact of the BET on British Columbia’s METR appears to be somewhat less than the impact in Ontario, while the impact on Alberta’s METR appears substantially less. The BET’s substantial impact on Ontario’s METR lends strong support to the case for parity between Business and residential education tax rates. We estimate that if the BET rate were reduced to parity with the residential education tax (RET) rate, its METR impact would be much smaller. Even an announcement that BET/RET rate parity is to be attained in 15 years would immediately reduce the METR impact of BET due to the effect on investor expectations. As a start, governments should include the BET in published METR estimates, such as the estimates published routinely in Ontario budgets. Leaving out the BET means missing a large part of the tax burden investors pay. It thus leads governments to underestimate the negative impacts on investment stemming from their tax systems, and it causes governments to defer – perhaps indefinitely – tax reforms needed to mitigate those negative impacts.
Restrepo-diaz, David Alejandro - One of the best experts on this subject based on the ideXlab platform.
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Significados compartilhados e tomada de decisões: o mito e a história como elementos simbólicos incidentes numa empresa familiar colombiana de transporte terrestre
'Editorial Pontificia Universidad Javeriana', 2020Co-Authors: Ballesteros, Maximiliano Gastón, Restrepo-diaz, David AlejandroAbstract:Decision-making in family organizations has been an important issue in the study of family Business Property, although the studies in the area do not display aspects such as sociocultural dimensions. Thisstudy had an approach of the family Business organization from the shared meanings suggested by March (myths, symbols, rituals, stories), through the biographical methodology of Vieytes to understand how shared meanings affects in the management decision making in a Colombian family-runned transportation company. From the research, it was evident that the myth of the founder plays a central role in the decision-making of the director’s board, turning the process into a ritualized organizational dynamic.La toma de decisiones en organizaciones familiares ha sido un tema importante en el estudio de la propiedad empresarial familiar, sin embargo, las investigaciones no han profundizado en las dimensionessocioculturales. Este estudio abordó la organización empresarial familiar desde la perspectiva de los significados compartidos planteados por March (mitos, símbolos, rituales e historias). En este sentido, se implementó el método biográfico de Vieytes para comprender cómo inciden los significados compartidos en la toma de decisiones gerenciales al interior de una empresa familiar colombiana de transporte terrestre.Los resultados evidenciaron que el mito del fundador juega un papel central en la toma de decisiones de la dirección y convierte el proceso en una dinámica organizacional ritualizada.A tomada de decisões em organizações familiares tem sido um tema importante no estudo da propriedade empresarial familiar; contudo, as pesquisas não têm aprofundado nas dimensões socioculturais. Este estudo abordou a organização empresarial familiar sob a perspectiva dos significados compartilhados propostos por March (mitos, símbolos, rituais e histórias). Nesse sentido, aplicou-se o método biográfico de Vieytes para compreender como os significados compartilhados incidem na tomada de decisões gerenciais no interior de uma empresa familiar colombiana de transporte terrestre. Os resultados evidenciaram que o mito do fundador desempenha um papel central na tomada de decisões da direção e converte o processo numa dinâmica organizacional ritualizada
Rachel Weber - One of the best experts on this subject based on the ideXlab platform.
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is tax competition strategic spatial distributions of Business Property tax abatements in the chicago suburbs
Economic Development Quarterly, 2021Co-Authors: Richard Funderburg, Joshua Drucker, David Merriman, Rachel WeberAbstract:The authors analyze the locations of Property tax abatements awarded to Businesses in Cook County, Illinois from 2012 to 2014 to explore their spatial distribution and to examine local government m...
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do local governments use Business tax incentives to compensate for high Business Property taxes
Regional Science and Urban Economics, 2020Co-Authors: Joshua Drucker, Richard Funderburg, David Merriman, Rachel WeberAbstract:Abstract Why do municipalities set Business Property taxes higher than the costs of Business services when, in competitive markets, this would result in the inefficient provision of public goods? Statutory tax rates may be set artificially high to allow selective reductions for targeted firms through incentives. We examine the nearly 2500 tax codes—sub-municipal geographic areas—that host Business locations in 134 municipalities in Cook County, Illinois. We explain spatial variation in tax incentives as a function of the relative competitiveness of tax codes. Our findings suggest that municipalities apply Property tax abatements to offset their own relatively uncompetitive tax rates but use Tax Increment Financing (TIF) incentives to engage in vertical competition in order to capture revenue from overlapping governments.
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the use of Business Property tax incentives in cook county illinois
Social Science Research Network, 2018Co-Authors: Joshua Drucker, Richard Funderburg, David Merriman, Rachel WeberAbstract:The authors use data on all Business parcels and Property tax incentives in Cook County to analyze the use of Business tax incentives from 2012 through 2014. By law, Cook County commercial and industrial parcels are assessed at 25 percent of market value. Under certain conditions, however, these Business parcels can be granted special assessments reduced to a lower fraction of market value (usually 10 or 12 percent) for more than 10 years from the date of the designation. These special assessments, assigned as incentive “classifications,” effectively reduce the tax payments of these parcels by 50 percent or more. More than 2,000 commercial or industrial parcels received special assessments that substantially lowered their Property tax liabilities each year. These assessment reductions decreased county-wide Property tax collections by approximately $250 million in 2014, which is 5.3 percent of the $4.7 billion of commercial and industrial Property taxes that local governments (including school districts) billed in Cook County. Industrial assessment reductions decreased industrial Property tax revenue by 20 percent or less in most municipalities, but in a few municipalities the incentives reduced industrial revenue by one half or more. Most municipalities that used commercial assessment reductions lowered commercial Property tax revenue by 10 percent or less, but a small number reduced commercial Property tax revenue by 30 percent or more. Nearly 50,000 commercial or industrial parcels were located in either Tax Increment Financing (TIF) districts or Enterprise Zones (EZs), making the owners of these parcels eligible for development assistance such as access to land at reduced cost, parcel-specific or larger-scale infrastructure improvements, and sales and income tax reductions. A substantial number of these parcels received Property tax assessment reductions as well. Total Property tax redirections from local taxing authorities to TIF districts were more than twice the amount of industrial and commercial incentives in Cook County at $644 million in 2014. The data did not allow the authors to analyze the benefits firms obtained due to locations in EZs. The magnitude of incentive use and the interaction of different incentive programs suggest the need for increased scrutiny of their use and greater coordination of their administration.
Ballesteros, Maximiliano Gastón - One of the best experts on this subject based on the ideXlab platform.
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Significados compartilhados e tomada de decisões: o mito e a história como elementos simbólicos incidentes numa empresa familiar colombiana de transporte terrestre
'Editorial Pontificia Universidad Javeriana', 2020Co-Authors: Ballesteros, Maximiliano Gastón, Restrepo-diaz, David AlejandroAbstract:Decision-making in family organizations has been an important issue in the study of family Business Property, although the studies in the area do not display aspects such as sociocultural dimensions. Thisstudy had an approach of the family Business organization from the shared meanings suggested by March (myths, symbols, rituals, stories), through the biographical methodology of Vieytes to understand how shared meanings affects in the management decision making in a Colombian family-runned transportation company. From the research, it was evident that the myth of the founder plays a central role in the decision-making of the director’s board, turning the process into a ritualized organizational dynamic.La toma de decisiones en organizaciones familiares ha sido un tema importante en el estudio de la propiedad empresarial familiar, sin embargo, las investigaciones no han profundizado en las dimensionessocioculturales. Este estudio abordó la organización empresarial familiar desde la perspectiva de los significados compartidos planteados por March (mitos, símbolos, rituales e historias). En este sentido, se implementó el método biográfico de Vieytes para comprender cómo inciden los significados compartidos en la toma de decisiones gerenciales al interior de una empresa familiar colombiana de transporte terrestre.Los resultados evidenciaron que el mito del fundador juega un papel central en la toma de decisiones de la dirección y convierte el proceso en una dinámica organizacional ritualizada.A tomada de decisões em organizações familiares tem sido um tema importante no estudo da propriedade empresarial familiar; contudo, as pesquisas não têm aprofundado nas dimensões socioculturais. Este estudo abordou a organização empresarial familiar sob a perspectiva dos significados compartilhados propostos por March (mitos, símbolos, rituais e histórias). Nesse sentido, aplicou-se o método biográfico de Vieytes para compreender como os significados compartilhados incidem na tomada de decisões gerenciais no interior de uma empresa familiar colombiana de transporte terrestre. Os resultados evidenciaram que o mito do fundador desempenha um papel central na tomada de decisões da direção e converte o processo numa dinâmica organizacional ritualizada
