FINANCING PUBLIC INVESTMENT BY DEFERRED SPECIAL ASSESSMENT
- 1 December 1980
- journal article
- Published by University of Chicago Press in National Tax Journal
- Vol. 33 (4) , 413-429
- https://doi.org/10.1086/ntj41862329
Abstract
This paper proposes financing neighborhood public investment by special assessment, and allowing taxed owners to defer payment, with accumulated interest, until they sell the benefited property. The present discounted value of deferred payments equals the initial special assessment if the market interest rate is charged on assessment debt Property sales records and census data show that deferred assessments would typically yield a quicker cash flow return than necessary to amortize assessment debt by 30-year level payments.Keywords
This publication has 1 reference indexed in Scilit:
- A Pure Theory of Local ExpendituresJournal of Political Economy, 1956