Heal (2001, p. 1) notes that when Frederick Law Olmsted, the developer of New York Citys Central

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Heal (2001, p. 1) notes that when Frederick Law Olmsted, the developer of New York City’s Central Park, was asked how the city would pay for the park, “he responded that its presence would raise property values and the extra tax revenues would easily repay the construction costs. History shows that he was correct.” This episode illustrates best which of the three views of the nature of the local property tax?

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Public Finance In Canada

ISBN: 9781259030772

5th Canadian Edition

Authors: Harvey S. Rosen, Ted Gayer, Jean-Francois Wen, Tracy Snoddon

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