The Fiscal Impacts of Tax Revenue Diversification on Property Tax Burden, Reliance, and Fiscal Independence: The Empirical case in Florida Counties
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This study investigates the fiscal impacts of changes in the tax revenue diversification of Florida's 67 counties during the past 30 years using modern portfolio concept. A robust standard error model of a fixed effects model in a time-series cross-section data analysis is employed in order to examine the fiscal impacts of changes in tax revenue diversification on property tax burden, the reliance on higher levels of government, and the ratio of local taxes in Florida counties for a thirty-year period (FY 1981 - FY 2010). The result shows that a diversified tax revenue structure leads to decreases in property tax burdens and to increases in the ratio of local taxes to total revenues in each county. However, the result shows that a diversified tax revenue structure does not lead to decreases in the reliance on higher levels of government in each county.
Abstract
This study investigates the fiscal impacts of changes in the tax revenue diversification of Florida's 67 counties during the past 30 years using modern portfolio concept. A robust standard error model of a fixed effects model in a time-series cross-section data analysis is employed in order to examine the fiscal impacts of changes in tax revenue diversification on property tax burden, the reliance on higher levels of government, and the ratio of local taxes in Florida counties for a thirty-year period (FY 1981 - FY 2010). The result shows that a diversified tax revenue structure leads to decreases in property tax burdens and to increases in the ratio of local taxes to total revenues in each county. However, the result shows that a diversified tax revenue structure does not lead to decreases in the reliance on higher levels of government in each county.
참고문헌 (39)
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