The Real Estate Transfer Tax: An Alternative Source Of Park Acquisition and Development Funds

Authors

  • John L. Crompton
  • Susan R. Orton

Keywords:

Real estate transfer tax, park acquisition and development.

Abstract

A real estate transfer tax is a tax imposed on transfers of real property within a taxing authority's jurisdiction. It has been used by a number of jurisdictions as a source of funding for park acquisitions and development. The rationale for using the transfer tax for this purpose is that the person who buys a home or other property has hastened the decline in available open-space land. The paper gives a brief overview of the history of the real estate transfer tax, describes how it has been implemented in selected state and local jurisdictions, and assesses its strengths and limitations.

Published

1987-07-04

Issue

Section

Regular Papers