New Book Property Tax in Asia Provides the First Comprehensive Analysis of the Property Tax Across the World's Largest Continent

Lincoln Institute of Land Policy

PR98073

 

CAMBRIDGE, Mass., Oct. 3, 2022 /PRNewswire=KYODO JBN/ --

 

The property tax has great potential as a source of local government revenue in

Asia, but its implementation has been uneven. The Lincoln Institute's new book

Property Tax in Asia: Policy and Practice (

https://c212.net/c/link/?t=0&l=en&o=3661209-1&h=3661434543&u=https%3A%2F%2Fgo.lincolninst.edu%2Fl%2F153411%2F2022-09-27%2Fpq784c&a=Property+Tax+in+Asia%3A+Policy+and+Practice

) (Paperback $60.00, 552 pages: ISBN: 978-1-55844-423-2) provides the first

comprehensive analysis of how this essential fiscal instrument has performed

throughout the world's largest continent.

 

Written by a team of leading experts and edited by William McCluskey, Roy Bahl,

and Riël Franzsen, the book provides a comparative analysis and detailed

recommendations, with 13 in-depth case studies covering a region that is home

to nearly half the world's population.

 

"Our case studies of these 13 countries and regions found that methods to

modernize the property tax vary widely among them, including how they capture

its advantage as a revenue-raising measure and make it an instrument for

rationalizing land use policy and promoting social equity," the editors write.

 

A resource for scholars and policy makers alike, the book provides the most

thorough review to date of the laws, administrative practices, reform

proposals, technologies, and political debates that shape the property tax

across countries of all sizes and income levels.

 

The book finds that, in general, wealthier countries such as Japan, Korea, and

Singapore have well-functioning property tax systems, although they face

challenges -- for example, unclear ownership of Japan's growing number of

abandoned homes. In China and Vietnam, which do not allow private ownership of

land, local governments rely heavily on one-time land-use fees, which are less

reliable and stable than recurrent taxes. In addition, many lower-income

countries suffer from narrow tax bases, undervaluation of property, poor

compliance, and political challenges.

 

To represent roughly 50 countries, the editors selected 13 cases in based on

the use of the property tax, innovative administration, use of technology, and

history with the property tax. The case studies include all the largest

economies in South and East Asia, all jurisdictions with recurrent property

taxes of at least 1 percent of GDP, and a range of lower-income countries

throughout Asia. The cases include China, Hong Kong, India, Indonesia, Japan,

Korea, Malaysia, Pakistan, the Philippines, Singapore, Taiwan, Thailand, and

Vietnam.

 

Acknowledging that conditions vary widely, the book recommends the following 10

directions for reform:

 

    -- Develop a property and land tax strategy

    -- Take a comprehensive approach to reform

    -- Clarify the different roles of national, provincial, and local government

    -- Eliminate unnecessary tax exemptions

    -- Simplify the tax rate structure

    -- Rationalize the use of property transfer taxes

    -- Improve the quality of valuations and compliance with statutory

       revaluation cycles

    -- Improve voluntary compliance with the property tax

    -- Simplify and improve public management

    -- Harness the power of information technology

 

Property Tax in Asia: Policy and Practice  (

https://c212.net/c/link/?t=0&l=en&o=3661209-1&h=3661434543&u=https%3A%2F%2Fgo.lincolninst.edu%2Fl%2F153411%2F2022-09-27%2Fpq784c&a=Property+Tax+in+Asia%3A+Policy+and+Practice

) is the latest in a series of Lincoln Institute books analyzing the property

tax in large regions of the globe, including Property Tax in Africa: Status,

Challenges, and Prospects (

https://c212.net/c/link/?t=0&l=en&o=3661209-1&h=4177990419&u=https%3A%2F%2Fwww.lincolninst.edu%2Fpublications%2Fbooks%2Fproperty-tax-in-africa&a=Property+Tax+in+Africa%3A+Status%2C+Challenges%2C+and+Prospects

) (2017) and Property Tax Systems in Latin America and the Caribbean (

https://c212.net/c/link/?t=0&l=en&o=3661209-1&h=2644034138&u=https%3A%2F%2Fwww.lincolninst.edu%2Fpublications%2Fbooks%2Fsistemas-del-impuesto-predial-en-america-latina-el-caribe&a=Property+Tax+Systems+in+Latin+America+and+the+Caribbean

) (published in Spanish, 2016). For more information, visit the Lincoln

Institute's website:

https://go.lincolninst.edu/l/153411/2022-09-27/pq784c

 

Praise for Property Tax in Asia

 

"Property Tax in Asia provides much-needed insight into one of the most

misunderstood forms of taxation across the world. Politicians and key

stakeholders must understand all aspects of the tax for implementation based on

sound policy principles to provide sufficient revenues for essential local

services. Using the unparalleled experience of its eminent authors and editors,

this book outlines successful property tax systems in various Asian countries

and identifies where further improvements can be made through recommended

reforms."

-- Paul Sanderson, President, International Property Tax Institute

 

"This is an authoritative sourcebook and a must-read for all those interested

in revenue generation, especially during this time of fiscal constraints.

McCluskey, Bahl, and Franzsen draw on rich case studies to expertly examine

current policies and practices related to the property tax in Asia. Through

detailed examination of every aspect of property taxes, the book provides

invaluable lessons for academics, policy makers, and practitioners."

-- Deborah Wetzel, Former Senior Director for Governance, the World Bank;

Senior Fellow, Governance, Institute for State Effectiveness

 

"This book will help shape the future of property tax reform, design, and

implementation. Policy makers, scholars, and students will find this

comprehensive volume invaluable. The analytical framework, cross-country

comparisons, and detailed case studies provide insights and lessons on how to

successfully design and strategically implement property tax reforms."

-- Roy Kelly, Professor of the Practice, Sanford School of Public Policy, Duke

University

 

"Property Tax in Asia, edited by three highly distinguished property tax

scholars, takes a deep dive into property tax design and implementation in a

continent where most countries need to provide autonomous revenue sources to

promote efficiency and accountability in public spending. This innovative book

will be a fundamental resource to scholars, practitioners, and policy makers in

Asia and the world."

-- Jorge Martinez-Vazquez, Regents Professor of Economics Emeritus, Georgia

State University

 

"This is an essential handbook for professionals and students on the policies

and practices of property tax in Asia. The 13 case studies by scholars and

practitioners stationed in their target countries provide expert insight into

the context, evolution, institutions, and analyses of the tax systems in Asia."

-- Yilin Hou, Professor, Maxwell School of Citizenship and Public Affairs,

Syracuse University

 

"This book is an excellent reference for lawmakers, administrators, and

practitioners to conceive and implement an efficient system of property

valuation and taxation in Vietnam specifically. It is a valuable pedagogic

document for developing professional training and academic teaching."

-- Loan H. Trinh, Lecturer, Hanoi National Economics University and University

of Quebec in Montreal

 

About the Authors

 

William McCluskey is an Extraordinary Professor at the African Tax Institute at

the University of Pretoria, South Africa.

 

Roy Bahl is Emeritus Regents Professor of Economics and founding dean of the

Andrew Young School of Policy Studies at Georgia State University. He also is

an Extraordinary Professor of economics at the African Tax Institute at the

University of Pretoria.

 

Riël Franzsen is a professor and director of the African Tax Institute at the

University of Pretoria, where he holds the South African Research Chair in Tax

Policy and Governance.

 

About the Lincoln Institute of Land Policy

 

The Lincoln Institute of Land Policy seeks to improve quality of life through

the effective use, taxation, and stewardship of land. A nonprofit private

operating foundation whose origins date to 1946, the Lincoln Institute

researches and recommends creative approaches to land as a solution to

economic, social, and environmental challenges. Through education, training,

publications, and events, we integrate theory and practice to inform public

policy decisions worldwide.

 

SOURCE  Lincoln Institute of Land Policy

 

CONTACT: Will Jason, wjason@lincolninst.edu, +1 (415) 475-9554  

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