>> Revenue from charges, fees, and miscellaneous sources increased from 15 percent to 23 percent in 1985 and has remained roughly at that level since then (figure 2). /ModDate (D:20131230000155+10'00') Small businesses . OECD fiscal decentralization database (object name Table 12: 1970 2016), OECD, accessed April 15, 2019, oecd.org. Cities could also revise their pricing models by using differentiating factors specific to each revenue lever. First, to identify the relevant revenue streams and which interventions to apply, cities should determine the relevant data and revenue baselines. But, communities are still facing a numerous difficulties in access to basic goods and services from local governments Authorities (Pradeep, 2011). /Filter /FlateDecode endobj 4. Tax is a compulsory levy imposed by government on individuals and companies, for the various legitimate function of the state (, Tax is a necessary ingredient for civili"ation. endobj >> /Type /Page Wendthat,incitieswherearelativelyhighershareofrevenueiscollectedthrough nes, fees, and asset forfeitures, violent crimes are cleared at a relatively lower rate, 3 Cities could also increase value from unused land plots through monetizing them either as lease contracts or through other more innovative publicprivate partnership structures, such as joint development agreements or joint ventures (Exhibit 4). What tax incentives encourage energy production from fossil fuels? /F7 42 0 R /Type /Page Areas to be assessed may include the following metrics: Ease of implementation. I. I. ntroduction How does the federal government spend its money? However, the state government transfer total includes indirect federal funds that are initially allocated to states. /Parent 2 0 R >> It should also prepare reports on the performance of various initiatives and their respective owners or entities and update revenues studies based on changing market conditions. /F5 40 0 R /Type /Page Strategic control and revenue generation: A critical success factor in local government using the balanced scorecard. Revenue Generation in Local Government Areas (Problems and Prospects) Filed in Accounting Project Topics, Current Projects by TMLT Editorials on July 20, 2021 /Meta59 53 0 R All revenue data are from the US Census Bureaus Annual Survey of State Government Tax Collections. Cameron Amos and Jesper Lindqvist, Finlands fine example, The Australia Institute, January 2016, tai.org.au. State and Local Finance Data: Exploring the Census of Governments. [/ICCBased 11 0 R] Revenue from property, sales, and other taxes totaled $707 billion, or 42 percent of general revenue. /Tabs /S Taxes provided 49 percent of state general revenues in 2019, including: Charges, such as tuition paid to a state university, payments to a public hospital, and tolls on highways, when combined, provided another 11 percent of state general revenues in 2019. This intervention is typically applicable to any paper-based transactions or services, such as business license fees, construction permit fees, or land registration fees. /Resources << Recent Comprehensive Tax Reform Proposals, The State of State (and Local) Tax Policy, Fiscal Federalism and Fiscal Institutions. Developing countries revenue growth is hampered by a . 971z The principal aims of creating local governments were as follows: 1. In 2020 and 2021, Congress transferred a large amount of funds to state governments as part of the CARES Act, the Coronavirus Response and Relief Supplemental Appropriations Act (part of the December 2020 omnibus bill), and the American Rescue Plan. /ExtGState << << How do phaseouts of tax provisions affect taxpayers? Last, municipalities could increase revenues by implementing higher fees for faster processing times or better service. x\KF+BGPpF^H bCfz(a11mGVV_faw1^o|mew5t'7=^$MDDRYTR7*::'W{o7/jBl\~?vM/ /Contents 56 0 R The rapid urbanization of the worlds population is well under way. Municipalities often levy charges and taxes on property owners as well as on income, sales, and other transactions. Global Journal of Management and Business Research Administration and Management, 13(4), 1226. The capacity of local government to generate revenue internally is one very crucial consideration for the creation of a local council. How would small businesses be treated under a VAT? Next, cities should perform a thorough gap analysis to define the potential revenue impact for any given stream. /Tabs /S What is the new markets tax credit, and how does it work? /Font << <>/XObject<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/Annots[ 13 0 R] /MediaBox[ 0 0 612 792] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> Create new revenue streams. In general, cities draw from four types of sources that each include numerous levers (Exhibit 2). % Gkq;T$iH5p6m&C~W]'%Yv$Jq * Indeed, each citys situation is inherently different and will require a unique combination of interventions and careful consideration to ensure the program is both economically and politically feasible. /ExtGState << Emerging countries and regions will see the greatest increase in their urban populations, and China, India, and Nigeria represent slightly more than a third of the projected growth in that time frame. /Meta41 36 0 R /Meta65 57 0 R In Finland, for example, fines for speeding are broadly linked to the income of violators and how far over the speed limit they were traveling when caught. =s`Eu00Fu@dH*e&PtD\ \ v B#L2]\m /Meta44 31 0 R 2.1.2 Section 81 of the Local Government Act, 1997 (amended) allows Local Government to mobilise revenue in form thof fees and taxes as specified in the 5 schedule. out of variations from the revenue generation capacities of component units. Would a national retail sales tax simplify the tax code? VIP services can also be offered where increased fee levels guarantee higher quality. https://www.grin.com/document/293498. /Type /Group /CS /DeviceRGB 3.16.1 Introduction. /CS /DeviceRGB essential social services to the people. /XObject << /MediaBox [0 0 595.32 841.92] From 2010 to 2016, for example, central government funding as the share of total municipal revenue fell by approximately 12 percent, on average, across all countries in the Organisation for Economic Co-operation and Development (OECD) Concept Publications. Problems of revenue generation in local government administration in Nigeria. /MediaBox [0 0 595.32 842.04] 2. What are error rates for refundable credits and what causes them? Subscribed to {PRACTICE_NAME} email alerts. Furthermore, technological advancements can aid increased surveillance. 1. How do state earned income tax credits work? City assets and investments. The authentic confucius: A life of thought and politics. /Tabs /S >> Accessed 18 July 2016. In our experience, governments can capture significant valueup to 50 percent of potential additional revenuesby implementing measures linked to effectiveness such as enhancing collections and audit processes or better asset monetization. Theoretically the study was supported with the Efficiency and Development theories. What are dynamic scoring and dynamic analysis? Hence the various sources of local government finance have become very crucial in order to foster development at all levels of governance. Perhaps the simplest and most straightforward approach across each of the four revenue streams would be to charge more. What are inversions, and how will TCJA affect them? )U!$5X3/9 ($5j%V*'&*r" (,!!0b;C2( I8/ 11 >> Government and to the State Governments. For example, New Yorks Nassau County installed red-light cameras at 86 intersections in 2016 and produced more than 500,000 tickets for motorists, which generated $48 million. /Meta55 44 0 R Which tax provisions subsidize the cost of health care? %(zC]N"t~'ewd+*a[`.dP(wz)Vio+qjXvVmWHS%n}"GC3m*.#w+.T#p1f^HgC`|Mzcs,JX8/v>na,4t^}$$\X S:ds0{ws:yGu.%;x/\)F@!>od1v((EF|' Sales taxes (general and selective) provided local governments $124 billion (7 percent of general revenue) and individual income taxes accounted for $33 billion (2 percent). This approach has the potential to not only fairly penalize offenders and reduce instances of speeding but also to generate more revenue. /Length 5747 /Image85 72 0 R Economic development in the Third World (12th ed.). US Census Bureau. /F1 20 0 R /CS /DeviceRGB 15 0 obj What are the consequences of the new US international tax system? >> (*(%8H8c- fd9@6_IjH9(3=DR1%? >> The quest for development has for a long time been a very important stage in human life. an increment in revenue generation capacity of MMDAs (Ohemeng & OfosuDarkwah, 2014), the notion that egovernment enhances revenue capacity of state institutions is contentious and needs further investigation. \~x2{w6HZpV1 ~eh5u*d*pn1gs9WzfY+W)hh,O`\`k}[rHyU ;18HXS-xep]#2 jAI740-+-=tk3zdSzn*Qv8tC>"mTv{ 4X[w*qQ*@TLHYF\MQZjxU^VQqy hiJdNVhP Mq:=oD5QyU!WwH^_/6+_Gwg_vSLVe` -WL=:@N>X9VfEhlfN~ <=-y3e,KQ!CH[jy^{eTuyt\p\)?rj;7K80r;@66Auu:fdYfJ LG8D6 %$5 >> 4. HyTSwoc [5laQIBHADED2mtFOE.c}088GNg9w '0 Jb Our teams brought Axon to new heights in 2022 with the following major accomplishments: Strong financial results: In 2022, Axon delivered record revenue growth of 38% to $1.19 . The potential effect on electricity prices is discussed in the Additional Comments section below. % Who bears the burden of federal excise taxes? Although local government revenue was about the same relative to gross domestic product in 1977 (8.6 percent) and 2017 (8.7 percent), it has fluctuated over the period (figure 3). /Meta52 49 0 R The revenue systems of these governments eroded while the workloads and scope on the expenditure side of the state and local system budget . University of Lagos Press. How did the Tax Cuts and Jobs Act change personal taxes? What is the tax treatment of charitable contributions? Much of the change in local government revenue relative to the economy resulted from increasing and decreasing transfers from federal and state governments. Assets can include land monetization (such as land used by telcos for cell towers), appreciating land values, and commercial advertisements in public spaces, public markets, and shopping centers. /ProcSet [/PDF /Text /ImageB /ImageC /ImageI] G$\0#?; All other taxesincluding corporate income taxes, hotel taxes, and business license taxesprovided $40 billion in revenue (2 percent). (2006). >> Arabian Journal of Business and Management Review (Nigerian Chapter), 1(10), 2435. /Image8 18 0 R /Tabs /S Meanwhile, individual income taxes have also increased as a percentage of state and local general revenue, providing 10 percent in 1977 and 13 percent in 2019. Assessing Fiscal Capacities of States: A Representative Revenue SystemRepresentative Expenditure System Approach, Fiscal Year 2012. Washington DC: Urban Institute. Introduce innovative fees and charges. stream The Nigerian political system is of a federal one which implies that all the three tiers of government should each function to provide good, Cover cost to serve where possible. New York, Scribner Press in Institute of Management and Leadership Professional Nigeria (2012). To serve as the third tier of government through which appropriate services and development are made in response to the wishes of local community through their representatives. . Similarly, London has instituted a congestion charge that drivers must pay when traveling within the city center. With initial adjustments for relevance and size of potential revenue impact, cities can select the most promising streams as revenue generators. Assessing Fiscal Capacities of States: A Representative Revenue SystemRepresentative Expenditure System Approach, Fiscal Year 2012. Two Decades in Effect: Volume-Based Waste Fee System in South Korea, Ministry of Environment, South Korea, January 2016. What is return-free filing and how would it work? %PDF-1.5 What are the benefits of return-free filing? the enabling law in form of local government act 1997 (amended). /F4 23 0 R What did the 200810 tax stimulus acts do? revenue allocation among federal, state and local governments in the country. << !ODL 2}PE^eF}6m 0|A h%D|k[ A 2016 study conducted by the Australia Institute concluded that the Finnish model would yield a 12 percent increase on average in the value of fines issued by five states in Australia. What policy reforms could simplify the tax code? What are tax expenditures and how are they structured? Local government personnel can be trained to administer simple but adequate revenue generation instruments. % 7 /Parent 2 0 R Governments should ensure that fee levels cover the costs of services being provided in the majority of cases. /Resources << /F3 22 0 R <]>> /Font << Since development demands a lot of capital, this study will critically analyze the relationship between local government finance system i.e. All major sources of revenue have grown in real dollars since 1977, with charges seeing the largest increase in percentage terms ($132 billion in 1977 to $575billion in 2019, or a 337 percent increase) and transfers seeing the largest increase in total dollars ($263 billion in 1977 to $762 billion in 2019, or a 189 percent increase). What tax incentives exist to help families save for education expenses? /Tabs /S << #$ e-`w6w /GS31 30 0 R /F2 21 0 R x]s63|:oNg$8Sw}hKM7?.~Vb@g6v|Y,j]w2_~yv6IDltsLDI%:nCSq251Le,qGO2-y5E 6X6> iq#"K%J3#GfF/_F ?V]pq^Te%&zuD`~>EgFY3c87Hlt9@)Ov?"c" @]TLlJaZg=40P//^E5uTxR4nhs7=pOCezQ&6.6+`,^M:|"T|m|'wo'Sc^e~abN77`& 8E9"m @}_6l?\Lzw]$1%gVv!CBJi`UY! What are tax credits and how do they differ from tax deductions? >> /Meta42 32 0 R We have found that this effort has led to a year-over-year increase in municipal revenues of 30 percent. /GS31 30 0 R /StructParents 3 In Los Angeles, for instance, developers can obtain an expedited engineering permit for a surcharge of 40 percent of the permits cost. /XObject << 1 /Meta57 46 0 R 7. <>/ExtGState<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 612 792] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> revenue generation still remains poor due to local government being unable to exploit revenue areas because of the interference of State Government in local government affairs. Nicole Badstuber, London congestion charge has been a huge success. Local governments collected $509 billion from property taxes in 2017, or 30 percent of local government general revenue. /ProcSet [/PDF /Text /ImageB /ImageC /ImageI] /Image87 74 0 R >> How did the TCJA affect incentives for charitable giving? As an alternative to benchmarking, cities could also determine the cost of services and then establish a cost-plus pricing model to generate additional revenues. /Contents 64 0 R How would various proposals affect incentives for charitable giving? - 185.64.219.103. 10. /ProcSet [/PDF /Text /ImageB /ImageC /ImageI] The percentage fell to a low of 8.0 percent in 1984 and peaked at 9.9 percent in 2009. Meanwhile, housing-program transfers are about 40 percent of federal transfers to local governments. /Type /Group "Follow the Money: How to Track Federal Funding to Local Governments." In 2019, transfers from the federal government provided 22 percent of combined state and local general revenues. >> /Meta99 77 0 R <>stream xref 3 0 obj What are the sources of revenue for local governments? endobj The share from intergovernmental transfers also fluctuated somewhat over time, falling from 43 percent of general revenue in 1977 to 36 percent in 2017. What are itemized deductions and who claims them? /XObject << What is the difference between a tax-exclusive and tax-inclusive sales tax rate? Revenue generation as a major source of income for the state government: An empirical analysis of two parastatals. Regarding dissipation, figure 4 shows the time series power curtailment of an integrated generation plant without energy storage. /Group << recommended that the local government should provide basic amenities of high quality. 9. Fajobi, O. F. (2010). What is the unemployment insurance trust fund, and how is it financed? Development which is a necessity in every society can be achieved to a great extent with adequate resources. Grants to local governments 11 This was localities largest single source of tax revenue. /Type /Page Another 6percent of localgeneral revenue came from miscellaneous sources such as amounts received from the sale of property and interest from some investment securities. >> As a local government leader, you're pressed to keep up with the immediate needs of your community during the COVID-19 crisis. /ExtGState << How large are the tax expenditures for retirement saving? . /Meta37 37 0 R /Meta58 47 0 R /F1 82 0 R Norton Francis and Frank Sammartino (2015). 3. 13 0 obj How do state and local individual income taxes work? Whats the difference between front-loaded and back-loaded retirement accounts? International Business Management, 3(3), 5460. The data was analyzed using simple percentage and frequency for primary data and content analysis for secondary data. 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