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Agricultural and Resource Economics Review >
Volume 32, Number 2, October 2003 >
Please use this identifier to cite or link to this item:
http://purl.umn.edu/31621
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| Title: | Farmland Preservation and Differential Taxation: Evaluating Optimal Policy Under Conditions of Uncertainty |
| Authors: | Johnston, Robert J. |
| Issue Date: | 2003-10 |
| Abstract: | Differential property tax policy for farmland is often set under conditions of uncertainty and limited information regarding landowners' objective functions. This study examines optimal differential tax policy for a parcel of agricultural land facing uncertain development, identifying instances in which common farmland taxation policies may be non-optimal. Optimal tax rates are characterized given three possible causes of uncertain development: exogenous offers from developers, tax-related reductions in landowner wealth, and a combination of these factors. Model results indicate that underlying causes of uncertain development are critical when seeking to assess the optimality of differential taxation policies, and the use of a single, time-invariant differential tax levy is rarely optimal given uncertain development. |
| URI: | http://purl.umn.edu/31621 |
| Institution/Association: | Agricultural and Resource Economics Review>Volume 32, Number 2, October 2003 |
| Total Pages: | 11 |
| Language: | English |
| From Page: | 198 |
| To Page: | 208 |
| Collections: | Volume 32, Number 2, October 2003
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| 32020198.pdf | 467Kb | PDF | View/Open |
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