The Ricardian Tradition and Local Property Taxation

Douglas Mair and Richard Damania

Cambridge Journal of Economics, 1988, vol. 12, issue 4, 435-49

Abstract: Contemporary neoclassical property tax incidence theory sees its historical antecedents in Alfred Marshall and H. G. Brown. Its origins can, however, be traced back to David Ricardo via the single tax movement. The classical Ricardian theory of local tax incidence has been misinterpreted by twentieth century economists: Ricardo's analysis of the Poor Rate is wholly consistent with modern theory. The logical consistency of the Harberger model of property tax incidence is questioned and a Kaleckian theory of incidence is presented. Results are shown under both competitive and noncompetitive market structures. The model suggests forward shifting of local business rates of 10 to 20 percent. Copyright 1988 by Oxford University Press.

Date: 1988
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