Local Government and Tax Incentives
Like federal and state governments, local governments offer tax incentives to businesses to help solve economic and/or environmental problems. Conduct an Internet search and find an example of a state or local government (perhaps your own) that offers an incentive to businesses and cite your resource(s). Describe the tax incentive you found, determine what economic problem(s) government is trying to solve by offering the incentive you highlight, and do your best to evaluate the costs and benefits of the incentive. Property taxes are invaluable to local governments and provide a good portion of their overall revenues. As such, it is valuable to learn more about them as they are often misunderstood. First, research property tax in your state: Who assesses property? What valuation standard is used? In what cycles are properties assessed? What classification system is used? What methods of property-tax relief are used for those in need? Then discuss why property tax is often the most-disliked tax. What are some reasons people seem to dislike it more than other taxes?
**Remaining Credit $22**
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