SFTAS PforR - ROADMAP FOR STATES TO INCREASE REVENUES FROM PROPERTY TAX

Abstract

Property taxes are an untapped source of revenues for States. The State Fiscal Transparency, Accountability, and Sustainability (SFTAS) Project assisted States to add a large number of urban properties to the tax roll with information on twenty-five (25) different property attributes, adopted regulations for automating tax collection and data sharing, and upgraded IT systems for tax collection. Addressing the massive undervaluation of properties by bringing property valuation closer to market values is still required for most States. The property information collected under the SFTAS project allows for the introduction of valuation systems that reflect market values.