Download - Georgia State
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Georgia StateUniversityAndrew Young School of Policy
Studies
Fiscal Research Center
Introduction and Overview
Sally Wallace
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Georgia StateUniversityAndrew Young School of Policy
Studies
Fiscal Research Center
Purpose
• Learn in some detail how the property tax works in Georgia
• Review the growth in property tax and policy alternatives that address that growth: assessment limitations, caps, exemptions, etc.
• Share experiences from other states with practitioners
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Georgia StateUniversityAndrew Young School of Policy
Studies
Fiscal Research Center
Overview
• What constitutes our property tax base?
• How has the property tax grown over time?
• Growth relative to population, income, U.S.
• Base component of growth in property tax revenue
• Burden of property tax in Georgia
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Georgia StateUniversityAndrew Young School of Policy
Studies
Fiscal Research Center
Which level of government?
TABLE 1. PROPERTY TAX LEVIES BY TYPE OF GOVERNMENT Type of Government
----------------Share----------------
1996 2007 State 0.88% 0.81%
School Systems 58.42 56.90
Counties 26.68 26.40
Municipalities 7.83 7.07
Special Districts 6.20 8.82
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Georgia StateUniversityAndrew Young School of Policy
Studies
Fiscal Research Center
Where does it come from?
TABLE 2. GROSS STATE PROPERTY TAX BASE BY COMPONENTS
--------------1996------------- --------------2007------------- Component
Growth Rate / Total Growth
Rate Component Value Share Value Share
Residential $67,674,986,920 43.2% $204,755,657,354 54.8% 1.46
Agricultural 7,094,619,575 4.5% 13,275,004,777 3.6% 0.63
Conservation Use 1,508,389,803 1.0% 11,403,223,872 3.1% 4.74
Commercial 38,756,645,635 24.8% 82,962,501,498 22.2% 0.82
Industrial 15,255,708,777 9.7% 23,542,025,082 6.3% 0.39
Utility 9,759,082,520 6.2% 11,962,960,904 3.2% 0.16
Motor Vehicle 14,541,680,241 9.3% 22,529,507,106 6.0% 0.40
Miscellaneous 1,945,974,252 1.2% 2,913,045,560 0.8% 0.36
Total Gross Digest $156,537,087,723 $373,343,926,153
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Georgia StateUniversityAndrew Young School of Policy
Studies
Fiscal Research Center
Have revenues grown?
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Georgia StateUniversityAndrew Young School of Policy
Studies
Fiscal Research Center
How much/how fast?
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Georgia StateUniversityAndrew Young School of Policy
Studies
Fiscal Research Center
Adjusting for inflation
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Georgia StateUniversityAndrew Young School of Policy
Studies
Fiscal Research Center
Relative to personal income
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Georgia StateUniversityAndrew Young School of Policy
Studies
Fiscal Research Center
Relative to the U.S.
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Georgia StateUniversityAndrew Young School of Policy
Studies
Fiscal Research Center
What has happened to the base?
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Georgia StateUniversityAndrew Young School of Policy
Studies
Fiscal Research Center
Base per capita
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Georgia StateUniversityAndrew Young School of Policy
Studies
Fiscal Research Center
Base relative to income
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Georgia StateUniversityAndrew Young School of Policy
Studies
Fiscal Research Center
Volatility of base growth
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Georgia StateUniversityAndrew Young School of Policy
Studies
Fiscal Research Center
Relative position in state-local finances
1991-92 2005-06
Own Source Revenue (000s) 18,197,816 44,402,258
All taxes 12,446,168 31,025,457
Property tax 3,734,111 8,946,070
Property Tax/OSR 20.52% 20.15%
Property Tax/All taxes 30.00% 28.83%
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Georgia StateUniversityAndrew Young School of Policy
Studies
Fiscal Research Center
Georgia relative to US
Levels and Rank 2005
Property tax per capita Property tax per
Total state-local taxes rank
$100 personal income
Level Rank
Level Rank
Per capita
Per $100
Georgia $899 33
2.91 28
38 41 US $1,132
3.28
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Georgia StateUniversityAndrew Young School of Policy
Studies
Fiscal Research Center
Summing up
• Property tax is an important revenue source, particularly for school districts and counties
• Tax revenues have grown:– Relative to population and income– Relative to other taxes, not much change
• Continued interest in the tax, its growth, and its future