Tools for State and Local Fiscal Management

Edited by Alex Hathaway, Affiliated Research Associate, Center for State and Local Finance and Fiscal Research Center, Andrew Young School of Policy Studies, Georgia State University, Atlanta, Jorge Martinez-Vazquez, Emeritus Regents Professor of Economics and former Director, Center for State and Local Finance, Fiscal Research Center and International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University, Atlanta and Chris Thayer, Research Associate II at the Career & Technical Education Policy Exchange, Center for State and Local Finance, Child and Family Policy Lab, Fiscal Research Center, International Center for Public Policy, and Metro Atlanta Policy Lab for Education, Andrew Young School of Policy Studies, Georgia State University, Atlanta, US

Contents:

Foreword by Robert D. Ebel xi

PART I TAX POLICY TOOLS
1 Introduction to Tools for State and Local Fiscal Management 2
Alex Hathaway, Jorge Martinez-Vazquez, and Chris Thayer
2 Dynamic revenue analysis: Experience of the states 9
Peter Bluestone and Carolyn Bourdeaux
3 Local government revenue diversification: Prospects for Connecticut 37
Laura Wheeler and Bauyrzhan Yedgenov
4 The Homestead Option Sales Tax: Lessons learned from DeKalb and Rockdale counties 79
Mels de Zeeuw and Laura Wheeler

PART II TAX INCENTIVE TOOLS
5 Age-based property tax exemptions’ effects on home prices and migration of older homeowners 91
Peter Bluestone and Nicholas Warner, with H. Spencer Banzhaf and Per Johnson
6 Preparing local tax expenditure reports: A practical guide for local governments 111
Per Johnson and Laura Wheeler
7 Local tax incentives: Examples from metropolitan counties 127
Laura Wheeler and Per Johnson

PART III EDUCATION POLICY TOOLS
8 Financing education services 152
Elton Davis and Isabel Ruthotto
9 Equalization grants for education services 183
Nicholas Warner
10 Georgia’s special purpose local option sales tax for education: Review of trends and policy implications 193
Ross Rubenstein and Nicholas Warner
11 The effect of start-up charter schools on nearby property values 218
Peter Bluestone, David L. Sjoquist, and Nicholas Warner

PART IV ECONOMIC DEVELOPMENT TOOLS
12 Tax increment financing: Effects of the Great Recession in the United States, Georgia, and Atlanta 254
Dick Layton
13 Adding multifamily residential properties to community improvement districts 284
Carolyn Bourdeaux, Lindsay Kuhn, Sarah E. Larson, and Laura Wheeler
14 Non-tax economic development incentives 319
Carlianne Patrick
15 Constitutional limits on state and local aid to private enterprise 331
Carlianne Patrick

Index 372