Public Goods and the Property Tax: A Theoretical Analysis
Clarence C. Morrison
Abstract
Clarence C. Morrison
Abstract
In this paper a property tax model is constructed in which the proceeds of the property tax are used to provide a public good. Generally speaking, it is argued that public provision of public goods will not be Pareto optimal in that public provision will result in the oversupply of public goods.
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In this paper a property tax model is constructed in which the proceeds of the property tax are used to provide a public good. Generally speaking, it is argued that public provision of public goods will not be Pareto optimal in that public provision will result in the oversupply of public goods.
Key concepts: Public good, Economics, Property (philosophy), Property tax, Public economics, Pareto principle, Microeconomics, Ad valorem tax