Land Value Taxes and Wilmington, Delaware: A Case Study

Eleanor Craig

No 03-14, Working Papers from University of Delaware, Department of Economics

Abstract: Ten years ago, the City of Wilmington, DE was poised to adopt a two tier tax structure, with all the property tax burden focused on land and the tax on building gradually falling to zero. This concept has been used successfully throughout the world, and enormous efficiency gains were projected for Wilmington. Today another form of land value taxation has been implemented, whereby vacant housing is fined, with the fine escalating as the duration of the vacancy increases. The paper argues that this tax structure will also achieve a better allocation of housing resources, making it expensive to own property that does not earn income.

Keywords: Land; Value; Taxation (search for similar items in EconPapers)
JEL-codes: H71 (search for similar items in EconPapers)
Pages: 10 pages
Date: 2003
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Citations: View citations in EconPapers (1)

Published in State Tax Notes, Vol 31, Number 5, Feb 2, 2004.

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