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The authors use laboratory experiments to test two self-assessment tax mechanisms for facilitating land assembly. One mechanism is incentive compatible with a complex tax function, while the other uses a flat tax rate to mitigate implementation concerns. Sellers publicly declare a price for their land. Overstating its true value is penalized by using the declared price to assess a property tax; understating its value is penalized by allowing developers to buy the property at the declared price. The authors find that both mechanisms increase the rate of land assembly and gains from trade relative to a control in which sellers’ price declarations have no effect on their taxes. However, these effects are statistically insignificant or transitory. The assembly rates in our self-assessment treatments are markedly higher than those of prior experimental studies in which the buyer faces bargaining frictions, such as costly delay or capital constraints.

Discusses the role of property taxation in a developed economy. Outlines the variations of method that can be adopted. Illustrates, via a case study of Singapore, particular issues associated with the implementation of property taxation in an environment of rapid urban growth.

The importance of local government within the UK has never been stronger, and this has direct implications as to the most appropriate method of financing this level of government. The council tax in Great Britain and traditional domestic rates in Northern Ireland represent the two primary sources of local government finance based on domestic property, which currently require significant reform. Weaknesses of the existing systems include the lack of buoyancy due to infrequent revaluations, horizontal and vertical inequities and the need to ensure that domestic property tax systems are seen to be fair. The paper makes a number of important recommendations which would enhance the acceptability and ultimately improve the operation of these forms of ad valorem taxation.

The paper examined how local authorities have attempted to rate undeveloped land as a means of mobilising revenues and the challenges associated with implementing this policy guideline. It focused on current practices in terms of policy and administration, the availability of undeveloped urban land, its revenue potential, and ways to improve policy for local land taxation.

Drawing from the mixed-method approach both qualitative and quantitative data were collected. Officials of the Wa Municipal Assembly, Lands Commission, Land Use and Spatial Planning Authority were purposely selected based on their knowledge and the roles they play in property rating practice. They were interviewed to understand their perceptions and views on rating undeveloped lands. Stratified proportionate and simple random sampling methods were used to select respondents. The respondents included land and landed property owners in three selected neighbourhoods.

The paper found that there was the prevalence of undeveloped lands mainly held by speculators and individuals constrained by financial challenges to develop their parcels. The Wa Municipal Assembly is unable to implement the policy guideline on charging rent on undeveloped lands due to lack of adequate information and generally unwillingness to implement this provision. Besides, the current guideline is too prohibitive and cannot be implemented in its current form. However, there is a window of opportunity for the Assembly to build data on undeveloped lands and moderately begin the implementation of the policy guideline.

Urban growth in Ghana is characterised by leapfrog development with many patches of undeveloped land in and around cities. The property taxation policies largely do not focus on undeveloped land or unimproved site value. In Ghana, property rate policy on the tax base excludes undeveloped land. However, government policy guidelines prescribe the charging of rent on these lands by local authorities. This paper provides a comprehensive discussion on the revenue potential of undeveloped urban land and why local government authorities have not been able to harness this potential. The paper has therefore recommended ways local authorities can use to mobilise revenue from undeveloped urban land.

There is limited research in rating undeveloped urban land especially looking at it from the perspective of policy and implementation as well as current practices. The paper shed light on the prevalence of undeveloped urban land and the guidelines that exist help local governments mobilise revenue from these lands. It contributes to the understanding that local government can harness the revenue potential of undeveloped land if policy design and implemented regarding these lands is enhanced. The paper also provides a good background and framework for further studies.

Since 1993 the UK has used a “banded” property tax as opposed to discrete values for the assessment of residential property. Explains both the advantages and disadvantages of the system. In addition, summarises the main results of empirical research into the use of banded property values which have been unaltered for ten years. In summary, aims to present findings on the continued operation of this unique system, highlighting strengths and weaknesses and its viability/applicability in other countries and jurisdictions in the light of empirical evidence based on the analysis of open market transactions. Discusses both the assessment and administration process and, with the analysis of sales data, demonstrates the importance of regular and frequent revaluations of the tax base in order to ensure a reasonable level of both vertical and horizontal equity. Speculates on the potential application of a banded system of property values in other countries, in the light of the advantages of the banded system which could lend themselves to jurisdictions where an ad valorem system of land taxation is inappropriate; where resources are limited in terms of experienced valuers, or where the availability of technology to undertake mass appraisal would provide added advantages. Concludes by drawing together recommendations in relation to how the system in the UK can be improved and makes recommendations for policy‐makers in other jurisdictions.

Implications of ambiguity for the dynamics of asset prices and wealth distribution are the chief concern of this study.

In a continuous-time stochastic macro setting characterized by heterogeneous agents and financial friction with perfect “skin-in-the-game” for productive agents, we derive analytically and then illustrate numerically how ambiguity aversion would impinge on the agents’ consumption share and precautionary motives, sowing the seeds for asset price misalignment and thereby calling for appropriate policy response.

The agents’ ambiguity-aversion triggers a low real risk-free rate, fewer consumption shares, higher precautionary savings and wealth redistribution, inducing misalignment in asset prices. The distortion entails welfare loss for all agents, making a case for conventional monetary and fiscal policy design and analysis. For a given degree of ambiguity aversion, the dividend and capital value taxations could mitigate the asset price misalignment though causing a welfare loss as they are distortionary in turn. However, conventional monetary policy could lessen the asset price distortion and improve the welfare of at least a subset of agents if it is fine-tuned well.

Characterizations of ambiguity-driven asset price misalignments along with redistributive implications of ambiguity and their reflections for asset price volatility, leverage, welfare and fiscal and monetary policy conduct and analysis are the key contributions of this study.

The purpose of this paper is to provide a theoretical framework for the subsequent analysis of the European Union internal market's concept of transparency in residential real estate transactions. Specifically, it seeks to identify the essential factors that should be addressed within any such analysis.

The study is based on a review of the literature on the general concept of transparency, and on other related aspects.

Based on this study, five dimensions of transparency are identified, namely transparency in transaction procedure, legal information, financing, taxation and transaction costs. The essential points are that an increase in cross‐border transactions increases demand for easy access to information held in other countries. The studied literature focuses on the coordination of legal systems, making systems more uniform and legally secured, and on broadening of the mortgage market. The study highlights the complexities involved in achieving transparency, as well as the length of time that this will take to achieve in practice.

The paper identifies different dimensions of transparency in residential real estate transactions. There is little prior research in the area which focuses specifically on residential transactions. The study therefore draws upon work in other areas, including financial markets and taxation, and places this within a residential housing context.

This paper aims to examine the Nigeria’s approach for tackling tax evasion, the limitations of double tax conventions for that purpose, the benefits of multilateral instruments/standards for automatic exchange of tax information and Nigeria’s ability to participate in such arrangements.

This paper is a library-based research, deploying content analysis with respect to books, law reports, law journals and newspapers.

Nigeria has taken significant steps to deal with domestic tax evasion by tightening anti-money laundering legislation, principally by making tax evasion a predicate offence and by imposing relating reporting obligations on financial institutions and a wide range of designated non financial institutions (DNFI's), but cross-border tax evasion remains a big problem owing to a limited network of double tax conventions (DTCs) and inherent limitations of the machinery in limiting exchange of information to distinct requests. Nigeria’s ability to benefit from new international standards providing for automatic exchange is compromised by the absence of robust rules with respect to taxpayer confidentiality and data protection.

Because the research focused on Nigeria, the findings of the study might not be applicable to other jurisdictions.

Given the devastating effects of tax evasion on development in Nigeria and the priority accorded to the eradication of the problem in the sustainable development goals, this paper meets a need to determine the extent of sufficiency of Nigeria’s legal and regulatory framework in enabling the country to tackle tax evasion.