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Uncertainty, risks and budgets in the age of coronavirus

JULY 28, 2020 | ILLINOIS MUNICIPAL LEAGUE

Reprint of Government Finance Review (GFOA) article by Michael Pagano and Christina McFarland, includes “… A crisis of the magnitude state and local governments, not to mention the federal government, are facing will require non-incremental thinking and policy proposals. … Given that property (real estate) ownership was a good proxy of wealth over a century ago, but not anymore, another bold idea that deserves renewed attention is land value taxation. This approach to revenue generation only considers the value of the land, not the homes, businesses or other structures on the land.”

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