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Ecomomics - Essay Example
Finance & Accounting
Pages 7 (1757 words)
Essay: Economics Table of Contents Introduction 3 Answer 1: Public Education Policy & Local Property Taxes 3 Answer 2: Population & Per Capita Taxes 4 Answer 3: Valuation of Land 6 Answer 4: Corporate Income Tax 6 Answer 5: Economic System & Property Taxes in South Africa 7 Conclusion 9 References 11 Introduction This essay includes discussion over the various economic concepts linked with the public policies and income taxes…
Lastly, an investigation into the role of property taxes in capital formation, national savings and foreign investments in South Africa has been discussed. Answer 1: Public Education Policy & Local Property Taxes In U.S., the usage of local property taxes in financing school education has been criticized as unconstitutional, which generates inequalities in public education expenditures across states. The reason for this is as those districts that have larger property tax bases per pupil, can generate any amount of revenue from lower tax rates as compared to those districts having smaller tax bases (National Research Council, 1999, p.58). Therefore, it is easier for rich jurisdictions to raise revenue for public education than the poor jurisdictions. The State of Virginia finances the public schools through a combination of federal, state and local funds. Also, there is contribution of private sector through partnerships with schools and their divisions. State’s General Assembly is responsible for apportionment of state’s funds for public education, through Appropriations Act. The sources of funds are retail sales, state lottery proceeds, tax revenues and other sources. ...
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