Roles of Property Tax

Introduction Property tax, an annual tax on the real property, has been in existence for more than three millennia. It is found most commonly on the market value concept. Its base may be the land and buildings or just the land only. The strengths and weaknesses of this type of tax are well known since it’s common globally and is a subject of a political debate (Hoff, 1991).Advertising We will write a custom essay sample on Roles of Property Tax specifically for you for only $16.05 $11/page Learn More This paper therefore seek to explain how the rate of savings in a less developed nation can be increased using the property tax. It will also highlight the roles that can be attributed to the property tax in encouraging the foreign investors to invest in the nation. Additionally, the paper will recommend other features of an economic system that may be implemented by this nation in order to achieve its economic objectives. Roles assigned to property t axes As an economic advisor, I would recommend a property tax that is administratively and technically easy to maintain and implement in all the circumstances. The property tax should be able to aim a cost yield ratio of 2% or even less making it cheap to administer. The property tax implemented should be secure in that it’s almost impossible to evade, the collection success rates should be at a minimum of 95% which is easily attainable. The transparency of the tax system should be evident in the property tax to ensure its affectivity (Hoff, 1991). The property tax should be in such away that the public understands it since understanding the market value concept is easy whether it is a rental value or capital value making its basis of assessment more appreciated. The property tax should ensure that there is a better correlation between the ability to pay and the assessed value. The tax should also be marginally progressive and therefore need to be designed correctly. The prop erty taxes should be well suited like a source to the revenue of the local governments generated locally; nevertheless it should be buoyant and predictable (Bahl, 1992). Economically, I’ll assign some other major roles to the property taxes. These include: acting as a major source of local revenues; the property taxes should be employed as the main source of revenues generated locally since it is geographically defined. It may be possible to use local sales taxes and local income taxes in generating the revenue for the local government but the two have administrative difficulties. Other sources may be rents from the properties owned by the government. However, property taxes still remain the major source of revenue in such areas since it is easier for the government to modify than it is to adjust the rates of income taxes (Hyman, 2008).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More As a primary source of revenue; property tax should be able to play a vital role in the autonomy and decentralization of the local government. Where there is full local government decentralization, the power to independently raise revenue is incorporated which allows the government to use such funds as they deem fit: as a support for other functions; the property tax should be able to be used by other bodies and agencies in assessing the value lists attached to properties. Some bodies that may find it relevant include drainage boards, water bodies and electricity which assess the charges imposed on such commodities (Bahl, 1992). Features of economic system to be implemented A developing nation willing to increase the savings of its citizens and the investments by the foreign investors ought to implement favorable economic systems that suit its objectives. In this case, some of the features of the economic system that I as an economic advisor would recommend for implementation inclu de: An economic system that facilitates decentralization and gives a basis for local autonomy A system that ensures an economic use of the available land An economic system that provides the base of revenue for a particular function authorities A system that reduces property and land prices hence facilitating land access by the public An economic system that can be applied to industrial, commercial and residential properties as well as buildings and agricultural land located in the rural areas (Hoff, 1991). Conclusion In summary, Property tax is an annual tax on the real property. It is found most commonly on the market value concept. The land and buildings or just the land only are its major bases. The strengths and weaknesses of this type of tax are well known since it’s common globally and is a subject of a political debate. This paper has highlighted major roles of property tax as; the major source of local revenue, primary source, contributing to functions of other bod ies and as a valuation list. The paper has therefore described how the rate of saving of a less developed nation can be increased using the property tax. It has also highlighted the roles assigned to the property tax in encouraging the foreign investors to invest in the nation. Eventually, the paper has recommended the features of an economic system that may be implemented by this nation in order to achieve its economic objectives. References Bahl, R. (1992). Urban Public Finance in Developing Countries. New York: Oxford University Press. Hoff, K. (1991). Introduction: Agricultural Taxation and Land Rights Systems. The World  Bank Economic Review, 5(1): 85-91.Advertising We will write a custom essay sample on Roles of Property Tax specifically for you for only $16.05 $11/page Learn More Hyman, D. N. (2008). Public finance: A contemporary application of theory to policy (9th  ed.). Mason OH: South-Western Publishing, Cengage This essay on Roles of Property Tax was written and submitted by user Bowen P. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Wouldnt life be so much harder if we did not have Essays

Wouldn't life be so much harder if we did not have Essays Wouldn't life be so much harder if we did not have someone to count on when we needed it? Being able to confide in another person when things get tougher than usual, for most people, could make a significant difference in coping with those difficult times. Growing up with siblings in my life, was one of the things I am most grateful for. My brother, Ryan, has been my best friend for as long as I can remember. We share the same interests and hobbies, he supports me in my decisions, without judgement, and we live by a very similar set of values . One of the reasons Ryan is my best friend, and we get along so well, is because we share many of the same interests and hobbies . We both lis ten to the same types of music; one being classic rock and roll, and another being rap/hip hop. We also have a similar taste in fashion because we both like to wear preppy-styled clothing. During the winter season , we both enjoy going snowboarding. Another reason we are such good friends, is because he does not judge me, and he supports me in the decisions that I make. In the past I have made some poor choices, and some of the friends I thought I had, disappeared when things were not going as smoothly as they could be. Ryan always looked out for me, and never thought any less of me for my faults. He also stopped hanging out with those, so called "loyal" friends, which did not stick around for me when things got tough. Lastly, we both share very similar values in life, and because of this, we are such close friends. One of the most important things to Ryan is family. Of course this argument is obvious, being that we are both brothers, b ut even before each other, we both put our mother. He also believes that hard work and dedication pays off in the end, which is definitely a value that I live by. In conclusion, having Ryan in my life is such a blessing. We get along so well with each other due to so many different reasons. Sharing the same interests, supporting me through the good and the bad, without judgement, and having similar life values are only a select few of those reasons. In my opinion, e veryone should have a "Ryan" of their own, to be there for them, and to appreciate in life .

The History of the Hand Grenade

The History of the Hand Grenade A grenade is a small explosive, chemical, or gas bomb. It is used at short range, thrown by hand or launched with a grenade launcher. The resulting powerful explosion causes shockwaves and disperses high-speed fragments of the metal, which provoke shrapnel wounds. The word grenade comes from the French word for pomegranate, early grenades looked like pomegranates. Origins Grenades first came into use around the 15th century and the first inventor cannot be named. The first grenades were hollow iron balls filled with gunpowder and ignited by a slow burning wick. During the 17th  century, armies began to form specialized divisions of soldiers trained to throw grenades. These specialists were called grenadiers, and for a time were regarded as elite fighters. By the 19th century, with the increased improvement of firearms, grenades popularity decreased and largely fell out of use. They were first used extensively again during the Russo-Japanese War (1904-05). The hand grenades of World War I can be described as empty cans filled with gunpowder and stones, with a primitive fuse. The Australians used the tin cans from jam and their early grenades were nicknamed Jam Bombs. Mills Bomb The first safe (for the person throwing it) grenade was the Mills bomb, invented by English engineer and designer William Mills in 1915. Mills bomb incorporated some design elements of a Belgian self-igniting grenade, however, he added safety enhancements and upgraded its deadly efficiency. These changes revolutionized trench-war combat. Britain manufactured millions of Mills bombs pins during the course of World War I, popularizing the explosive device that remains one of the most iconic weapons of the 20th  century. Other Types Two other important grenade designs that emerged from the first war are the German stick grenade, a narrow explosive with sometimes troublesome pull chord that was prone to accidental detonation, and the Mk II â€Å"pineapple† grenade, designed for the U.S. military in 1918.

Americans with Disabilities Act Essay Example | Topics and Well Written Essays - 750 words

Americans with Disabilities Act - Essay Example Title I of the Act clearly states that all the employers who have at least fifteen employees working under them, must give equal chances of employment to qualified disabled persons as well so that they get all the benefits that the organization is giving to the otherwise fit persons. The emphasis is on the elimination of discrimination which may arise in â€Å"recruitment, hiring, promotions, training, pay, social activities, and other privileges of employment† (U.S. Department of Justice, 2005). The employers do not have to ask them questions about the applicants’ disabilities until the job has been offered. Also, the employers are required to make such accommodations that should be appropriate for the physical or mental impairment that person is going through. The U. S. Equal Employment Opportunity Commission (EEOC) holds the responsibility to file complaints and charges against persons non-complying with the Act (U.S. Equal Employment Opportunity Commission, 2008). . .. job tasks; making equipment available for them; arranging medical examinations; modifying policies; or, arranging for special examiners and interpreters. Not all accommodations are needed by one disabled person. Every one of them would require a different sort of accommodation to be adjusted. But before making these accommodations, I would give a deep consideration to whether or not I should perceive the conditions being told as serious enough impairments that should require some accommodations made by me as a business manager. As far as obesity is concerned, Carrier (2000) states that â€Å"although courts initially were reluctant to recognize obesity as a qualifying disability for purposes of ADA protection, courts are increasingly willing to consider obesity as a disability giving plaintiffs status to raise ADA claims.† If I keep in mind the definition of disability as stated by the Act, then obesity is also one such claimed disability that restricts one to perform major li fe activities due to problems like in mobility. However, the point where obesity is defined should be considered. I will see that the person claiming accommodation is just fat or has higher than average fatness, and will see if there is a physical disorder that is causing obesity. If I find that there is some complication really associated with the person’s physique, I will make certain arrangements for him to make him feel at ease while at work but this decision would be more ethical than legal. Same is the case with depression as one cannot work properly when he suffering through anxiety, stress or trauma. If he is otherwise qualified, then I will consider arranging psychotherapists for the person. Again, this would be more of an ethical decision. Dyslexia is a serious impairment and under

Legal Strategies to Protect the Civilians in Syria Research Paper

Legal Strategies to Protect the Civilians in Syria - Research Paper Example The crisis in Syria has become a humanitarian crisis. The Syrian regime has committed mass atrocities against the population, most used one being the crimes against humanity. Some legal analysts argue that Syrian regime is on the verge of committing genocide, as the Alawi minority dominates the country and is currently fighting the Sunni majority. Moreover, a humanitarian disaster is present, as thousands have fled Syria and burdened neighboring countries such as Turkey. With only few solutions available under the international law to the Syrian conflict, even the ones at hand are either not politically feasible, or need UNSC authorization. Under the international law, military intervention in another country of any kind must be authorized by the UNSC, and it must be done in cases where human rights are in some way violated on a massive scale. The international community has a duty to protect Syrian civilians. There are many prerogatives that demand protection of civilians, two of wh ich are crucial for Syria. The first is the Responsibility to Protect (R2P), aiming to protect civilians from mass atrocities, and the second is elements of the Protection of Civilians in Armed Conflicts (POC). Under elements of POC referring to a conflict, the international community is again obliged to assist civilians and address their most basic needs. The proposed solutions so far have been mostly focused on either intervention or diplomacy. Military intervention conducted in the same style as in Libya has been proposed by some legal analysts. However, others claim that Russia and China would never vote in favor of such an intervention in UNSC. Moreover, factors present in Libya are absent in Syria, and thus an intervention of any type cannot take place. Instead, others propose the use of diplomacy through sanctions and referral of the regime members to the International Criminal Court (ICC) under the Statute of Rome. Since Syria signed the Statute, even in the absence of its r atification, ICC is authorized to prosecute Syrian regime members. However, again, UNSC referral to ICC is needed. Russia and China will never interfere with Syrian sovereignty. A third solution, also based on diplomacy, would be more feasible. It would be to ignore the Statute of Rome and simply allow the Syrian regime to save face and find a common dialogue with the opposition through an organized ceasefire agreement and peacekeeping mission. This option would be based on diplomacy. Sanctions on Syria are crucial in this option, but so is the option offered to the Syrian regime to leave and let the opposition take over the country. Ceasefire agreement would be arranged through sanctions. Once it would take place, peacekeepers would enter the country. The latter would need to be authorized by UNSC, but chances are higher that the resolution would pass, as it is non – interventionist and it does not involve ICC. Kofi Annan or another high profile figure in the Middle East cou ld be used to mediate the negotiations. This option could include a gradual transition to a consolidated democratic system through retention of the former regime members who

My American Dream Essay -- Personal Narrative Writing Essays

American Dream: what is your definition of it? Does it involve money? Does it involve love? Does it involve healthiness? People have different definitions of what they would want in their "American Dream." First of all, let's define American Dream. American Dream is what you would consider a "perfect life." It can be full of happiness, money, love, food, cars, whatever you desire; everyone has a different opinion. One person?s American Dream may be totally different from someone else?s; that is what makes us all individuals. Robert Wuthnow writes about different people?s American Dream in his essay "Having It All." Throughout Wuthnow's essay, it seems that not too many people are truly living out their American Dream. Many complain about having to work to much, not enough time with the family, not enough pay, and so on. My American Dream would include a good job and lots of money, spare time for my family and I, and most importantly, healthiness. First, money is very important in my American Dream for obvious reasons. Money gets you food. Money gets you shelter. Money gets you nice things. I believe that money, lots of money, is a big part of everyone?s American Dream; everyone including myself. When most people think of money the first thing that comes to mind is luxuries; however, money is needed for the bare necessities such as food and shelter. But how do you acquire money? Through a good job of course. Having an enjoyable, good paying job is extremely important. I am a firm believer that if you enjoy what you do, you do not have a job, you have a career. Many Americans also include jobs and money in their American Dream: ?Throughout much of our nation?s history people pursued the American Dream by... ..., many people think about having millions and millions of dollars; however, they fail to consider the little things that can truly make you happy. Little things such as family and friends, and most importantly, good mental as well as physical health. If you are healthy but live in poverty, you are not truly living your American Dream. If you are a millionaire but are dying from a disease, you are not truly living your American Dream. So what exactly does it take to live a ?perfect life?? That is a question that has no right or wrong answer; it simply depends on whom you are asking. Enjoyable job, plenty of money, spare time, and healthiness define my American Dream; what is the definition of yours? Works Cited Goshgarian, Gary. The Contemporary Reader. 6th ed. New York: Longman, 1999. Wuthnow, Robert. ?Having It All.? Goshgarian 498-504.

How Issues Are Affected By the Political Spectrum

On April 30, 1789, the United States of America elected our first president to lead our country. Then every four years thereafter, another president is elected. When election time comes around most Americans do not know anything about the issues involved and/or do not even know who is running. The two current candidates this year are Al Gore, the Democrat, and George Bush, the Republican. Three main issues that both parties deal with are Social Security, Tax Reform, and Education. Depending on each candidate†s political platform, they can be placed approximately on the political spectrum. Knowing where a candidate stands on the political spectrum, you can assume how he would feel on certain issues. Social Security is a huge issue this year because many citizens are concerned that they are paying the social security tax, but with the current plan, the money will run out by the time they get old enough to use it. Al Gore plans on taking social security and putting it aside and adding the interest gained to it which in his words, â€Å"I will keep it in a lockbox. The interest savings, I would put right back into it. That extends the life for 55 years† (Issues2000. om). Gore†s plan relates to the liberal side of the political spectrum. Normally most liberals believe in more government involvement and less big corporations. He is saying that the social security tax will go into a â€Å"lockbox† and no money will be taken out of it leaving it all to the government. â€Å"Today liberals view government as protecting individuals from being abused by a variety of governmental and nongovernmental forces, such as market vagaries, business decisions, and discriminatory practices† (Burns 243). This leads into why George Bush is a conservative. He plans on taking social security and putting it into the hands of our citizens and allowing them to invest their money in stocks. Bush wants to take the money out of the government†s hands and put it in the individual†s hands. â€Å"†¦ I†m going to trust [young workers] at their option to be able to manage, under certain guidelines, some of their money to get a better rate of return so that they†ll have a retirement plan in the future†¦ † (issues2000. com). Basically he is trying allow the â€Å"young workers† to control their social security rather than the government. This issue shows how two different sides of the political spectrum can affect the way they attack a problem. Tax Reform is another issue where both candidates differ greatly. Al Gore believes there should be a tax cut for the lower class and middle class families, but not for the wealthy class. This is true for a normal liberal to say. They believe the government should help those who are in need and leave those who don†t alone. â€Å"Liberals†¦ prefer that government take care of the weak, for the strong can nearly always take care of themselves† (Burns 244). With Gore†s plan, the typical family†s taxes would be the lowest in fifty years. This is definitely taking care of the weak part of society, the typical family. Bush, on the other hand, says he wants a tax cut for everyone. He believes everyone should deserve a tax relief, not just the middle class. This sounds good, but really the biggest cut would be in the upper class, who really do not need a tax cut. This just shows how Bush is being conservative by helping the big businesses, which make up most of the upper class. â€Å"Traditional conservatives, in the name of freedom, are emphatically pro-business† (248). Each candidate tries to show why their tax reform plans are better, but it just comes down to how each candidate relates to the political spectrum. Another big issue this year is Education. Both candidates feel differently about this issue. Al Gore believes that students who attend a failing school would be allowed to go to better school until that school is reopened under new management. He also says that schools that are doing poorly in student achievement would be given a fund to help them improve. Any progressing school would be given financial awards to help them strive to become better. This is considered a liberal view because he is saying that any weak school will be helped out by the government. In addition, he is supporting the improvement of some schools that are not meeting the standards. George Bush agrees somewhat, but he believes that if a school is failing, they have three years to fix the problems. If they don†t, they will be shut down and are demanded to give some money towards sending the students to other schools. He also says he would require testing be done every year. The schools that improve would get a bonus while the schools that are failing would lose some federal funds (English handout). Conservatives are also inclined to believe that those who fail in life are in some way the architects of their own misfortune and thus must bear the main responsibility for solving their own problems† (Burns 247). He is conservative by saying that the responsibility of failing schools is to fix the problems themselves. Some parts of this issue, education, Gore and Bush agree on but for the most part, they are like on two different sides of the political spectrum. Knowing where the candidate is located on the political spectrum, each issue can be related to how the candidate feels. Even though there are many issues a soon-to-be president has to discuss, there are definitely three main issues that affect everyone somehow. They all show a definite side of the political platform by each candidate. Each candidate†s side was relating to one side of the political spectrum such, as Democrats tend to be liberal, while Republicans are considered conservative. Referring back to the first paragraph, maybe we should model after our ancestors back when majority of our citizens actually cared about who was running and how they felt on the issues.