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26 Monthly Tax Features 1 (1982)

handle is hein.tera/taxfeaturs0026 and id is 1 raw text is: MONTHLY TAX FEATURES Volume 26, Number 1, January 1982 Tax Foundaton, icorporated 1875 Connecticut Avenue, N.W. El Washington, D.C. 20009 El 202-328-4500 17 Per Capita State-Local Property Taxes Pass $300 Mark As 1980 Property Levies Resume Their, Upward Climb Property taxes resumed their up- ward climb in fiscal year 1980, in- creasing from 1979 by $3.6 billion, or 5.5 percent, to a total of $68.5 billion for the year, and once again topping the $300 per capita mark. The 1980 increase followed a 2.2 percent, or $1.5 billion, decline in fis- cal 1979, which was due primarily to the impact of California's Proposition 13. That marked the first annual re- duction in U.S. property tax collec- tions since World War II. The latest year's rise, however, was somewhat below what was experienced during the 1970s. From 1970 to 1978, prop- erty tax rose at an average annual rate of 8.7 percent. Property taxes approximately dou- bled during the decade, rising by 101 percent in total and by 80 percent on a per capita basis from 1970 to 1980. Over the same period, property taxes declined in relation to personal in- come by 22 percent. In fiscal year 1980, property taxes accounted for 30.7 percent of total state-local tax collections-down from 39.2 percent ten years before. (Continued on page 4) ATTENTION EDITORS: Monthly TaxFeatures Is not copyrighted. Material may be reproduced freely. Please credit Tax Foundation.

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