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|Title:||Careful What You Wish For: Rate-Capping in Victorian Local Government||Contributor(s):||Drew, Joseph (author) ; Dollery, Brian E (author)||Publication Date:||2015||Handle Link:||https://hdl.handle.net/1959.11/18766||Abstract:||The new Victorian Government won the 2014 election on a platform to inter alia introduce a cap on council rates in all Victorian councils. This means that a rate-cap will be introduced beginning with the 2016/17 financial year, with future rises in rates pegged at the Consumer Price Index (CPI) after this date. This paper provides a comparative empirical analysis of New South Wales local government - the only Australian local government system to operate a rate-pegging regime - and Victorian local government with respect to rate-capping. We find evidence to support the proposition that rate-capping has deleterious effects on municipal revenue effort, equity, debt and infrastructure maintenance. Moreover, our findings do not provide empirical evidence in support of the claim that rate-capping increases municipal efficiency. The paper concludes by considering various alternative public policy instruments to rate-capping.||Publication Type:||Journal Article||Source of Publication:||Journal of Australian Taxation, 17(1), p. 139-167||Publisher:||Monash University||Place of Publication:||Australia||ISSN:||1440-0405||Field of Research (FOR):||140214 Public Economics- Publically Provided Goods||Peer Reviewed:||Yes||HERDC Category Description:||C1 Refereed Article in a Scholarly Journal||Other Links:||http://jausttax.com/||Statistics to Oct 2018:||Visitors: 65
|Appears in Collections:||Journal Article|
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