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☆ 5 cities with the highest property tax rates. Here's why rates can vary so much from place to place
  + stars: | 2023-08-22 | by ( Kate Dore | Cfp | ) www.cnbc.com   time to read: +2 min
Property tax is "really instrumental" as a local revenue source, but stressed that every community has different priorities and budgeting goals. Property taxes have 'so many variables'"With property taxes, it's pretty simple stuff," said Richard Auxier, senior policy associate at the Urban-Brookings Tax Policy Center. watch nowThis is why your next-door neighbor's property tax bill can be so different from yours, Auxier explained. Generally, cities tend to have more expensive property tax rates if there's high property tax reliance, low property values, or more robust local government spending, the report concludes. 5 highest effective property tax rates in 2022Detroit skyline Reese Lassman | EyeEm | Getty Images
Persons: Katherine Loughead, Loughead, Richard Auxier, Auxier, Reese Lassman Organizations: Istock, Getty, Lincoln Institute of Land Policy, Minnesota Center, Fiscal, Center for State Tax, Tax, Urban, Brookings Tax, Reese, EyeEm Locations: Detroit
☆ Column: Taxing inflation in final push to target
  + stars: | 2023-07-12 | by ( Mike Dolan | Thomson Reuters | Mike Dolan Is Reuters Editor-At-Large For Finance | ) www.reuters.com   time to read: +7 min
Former BoE policymaker Kate Barker told the Financial Times this weekend that targetted and temporary tax rises on top earners may be the most effective and fairest way to go. "We're asking monetary policy to do all the work," she said. But the political sensitivity of income tax likely dictates the way forward, however cogent the economics. Yet the more general point of fiscal policy helping with the final throes of the inflation battle continues to be made. "Fiscal Policy should remain aligned with monetary policy in the fight against inflation," the Fund concluded.
Persons: BoE policymaker Kate Barker, President Biden, Mike Dolan, Matthew Lewis Organizations: International Monetary Fund, Bank for International, U.S, Bank of, Financial Times, Fed, U.S . Bureau of Labor Statistics, Britain's, National Statistics, Reuters Graphics Reuters, Reuters, Republicans, Twitter, Thomson Locations: Britain, London
☆ UK government dishes out extensive tax cuts as country braces for recession
  + stars: | 2022-09-23 | by ( Jenni Reid | ) www.cnbc.com   time to read: +3 min
LONDON — The new U.K. government announced a sweeping program of tax cuts and investment incentives Friday, as Prime Minister Liz Truss seeks to boost the country's faltering economic growth. The energy support package is expected to cost more than £100 billion ($111 billion) over two years. The Institute for Fiscal Studies, an economic research group, said the reversal in the income tax rise and canceling the planned rise in corporation tax would lead to a £30 billion reduction in taxation revenue. It added that "setting plans underpinned by the idea that headline tax cuts will deliver a sustained boost to growth is a gamble, at best." Groups including the opposition Labour party argue that the tax cuts will disproportionately benefit the wealthy.
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