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How high are property taxes in my state? How high are property taxes in your state? state property taxes paid as a percentage of owner-occupied housing value

How High Are Property Taxes in Your State?

New Jersey has the highest effective rate on owner-occupied property at 2.21 percent, followed closely by Illinois (2.05 percent) and New Hampshire (2.03 percent).

2 min read
real property taxes in Europe, European property tax rankings, property tax collections as a percent of the private capital stock in 2019

Real Property Taxes in Europe

High property taxes levied not only on land but also on buildings and structures can discourage investment because they disincentivise investing in infrastructure, which businesses would have to pay additional tax on. For this reason, it may also influence business location decisions away from places with high property tax.

3 min read
State Income Tax Revenue from Unemployment Compensation SMART Act, state and local aid, state tax revenue collections beat state revenue expectations in FY 2020 coronavirus pandemic

State Income and Sales Tax Revenues Slide in Second Quarter

Today marked the release of second-quarter GDP data and provides a new glimpse into early changes in state and local revenues and spending. All told, second-quarter state and local tax receipts came in about 3.8 percent lower than they did in the same quarter a year ago. Income and sales taxes fell considerably while property and excise tax collections remained stable.

3 min read
Nebraska tax reform options Nebraska tax reform framework Nebraska income tax reform

CARES Act Conformity Would Promote Economic Recovery in Nebraska

Nebraska lawmakers may ultimately opt for a package that includes both property tax relief and the renewal of business incentives, but they should avoid doing so at the expense of decoupling from the CARES Act’s liquidity-enhancing provisions.

6 min read

New Jersey Considers Bonds Paid for by Statewide Property Tax

As New Jersey lawmakers grapple with reduced revenues due to the coronavirus pandemic, they have turned to an unusual solution: the issuance of bonds that would be repaid, if necessary, through temporarily higher sales and property taxes.

2 min read

Taxes: The Price We Pay for Government

Have you ever wondered where the money comes from to build roads, maintain a national defense, or pay for programs like Social Security? Taxes.

The Three Basic Tax Types

Discover the three basic tax types—taxes on what you earn, taxes on what you buy, and taxes on what you own. Learn about 12 specific taxes, four within each main category. Develop a basic understanding of how these taxes fit together, how they impact government revenues and the economy, and where you may encounter them in your daily life.

OECD tax revenues 2021 sources of government revenue in the oecd, 2019, government tax revenue corporate tax revenue corporate tax revenues

Tax Policy and Economic Downturns

The Great Recession provides some insight into how tax revenues declined during a deep recession. Across OECD countries, revenues fell by 11 percent from 2008 to 2009 with corporate income taxes seeing the steepest decline at 28 percent. Revenues from individual income taxes fell by 16 percent.

4 min read