Unformatted text preview: versus visiting services and design a business tax strategy where
the visitors contribute a fair share of the costs of service provision. Other efforts like tax on
business capital (for example the franchise tax) and tax on business rental value will make
the tax more progressive whereby, higher income businesses are targeted. Adopting vigilant
and easily administered tax strategy can minimize tax evasions.
With respect to taxes in general, priority would most effectively be placed on
improving tax collection both for property and business tax especially since the City has
already adopted maximum allowable rates. Low tax collection efficiency exists largely due to absence of correct assessments, inadequate management of records, lack of enforcement and
weak coordination among agencies.
Second, the Assessors Office should continuously improve tax base coverage in
order to improve the revenue yield of real property tax while the Business Tax Department
should establish a better accounting system for documenting gross receipts for business tax
Third, valuation and assessments of tax bases should be indexed for inflation
between formal revaluation. The City should make an attempt to counteract the scarcity of
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This document was uploaded on 01/27/2014.
- Winter '13