Estimates of the Uniform and Equal Property Tax Base before Exemptions

Abstract

The property tax was originally intended to be a tax on the stock of wealth, in essence all property – real and personal, tangible and intangible. Estimating the property tax base without any exemptions or other legal deviations from market value is an exercise that permits the discussion to return to the original concept of a “uniform and equal” property tax on all property. Although no previous attempt to estimate this total “theoretical” property tax base (in Kansas or elsewhere) could be found, an admittedly imprecise initial estimate was derived based on a series of estimating assumptions.The results reveal that the Kansas constitution and statutes currently exempt or otherwise do not tax approximately 97.2 percent of estimated total assets.

Keywords: property tax

JEL Classification: H24, H71, K34, P35, R38