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F. Naz
F. Naz, Chartered Accountant
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Experience:  Experience with chartered accountancy
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The major limiting factor in determining

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The major limiting factor in determining the size of a budget in the public sector is the capacity to tax or generate revenue. To compute fiscal capacity, a representative tax system should assess the level of personal income, the value of retail sales, and the value of property. However, there are other areas that governments should focus on when striving to ensure and maintain revenue generation. Diversifying a revenue portfolio is paramount, especially when the economy takes a downturn. In this Application, you will evaluate whether a hypothetical city has an adequately diverse tax mix, and recommend possible actions to improve its tax base.

To prepare for this assignment:
•Review the selected readings from Chapters 7, 8, 9, and 10 in Fiscal Administration: Analysis and Applications for the Public Sector, focusing on tax mix and revenue administration.
•Review this week's course media, "Budget Management Functions: Revenue," and focus on the need for achieving a diverse revenue portfolio.
•Reflect on the need of governments to achieve a balanced tax mix to ensure revenue generation regardless of external limiting factors.
•Think about ways in which a public organization could diversify its tax mix.
•Consider the following scenario for use in this Application:
The City of Swobodaville, a city in the lower Midwestern states, has not analyzed its tax base for a number of years. A new mayor, elected on a fiscally conservative platform, orders the city manager to conduct such an analysis. The mayor argues that the real tax base has declined in the previous five years. Part of the analysis shows a recent, although small, trend of businesses leaving the city for the suburbs. At the same time, the population is aging. The number of retirees has increased noticeably, but not significantly, in recent years. The analysis reveals that the real tax base has declined slightly in three of the previous five years and increased slightly in the other two years. It also shows that the tax collection rate has fallen off from 95 percent to 93 percent. The city analyzes its position with comparator cities. The following is discovered:

Type of Tax
Personal Income: Comparator: 11%; Swobodaville: 14%
Corporate Income: Comparator: 7%; Swobodaville: 6%
Sales Tax: Comparator: 39%; Swobodaville: 36%
Property Tax: Comparator: 38%; Swobodaville: 36%
Other Taxes/Fees: Comparator: 5%; Swobodaville: 8%


The assignment: (1–2 pages)
•Analyze the tax mix of Swobodaville. In your analysis ◦Explain whether the different tax types represent a good mix of revenue for the city.
◦Describe any actions the city should take regarding its tax base.
◦Explain what else you would need to know to conduct a more complete analysis of the tax mix situation in Swobodaville.
Submitted: 1 year ago.
Category: Homework
Expert:  F. Naz replied 1 year ago.
Welcome to JA, by what time do you need the answer thanks.
Customer: replied 1 year ago.
Tuesday would be great, sorry I took so long
Expert:  F. Naz replied 1 year ago.
Will try my best to answer it in next 24 hours, take care.
Customer: replied 1 year ago.
Thank you
Expert:  F. Naz replied 1 year ago.
Okay
Expert:  F. Naz replied 1 year ago.
THIS ANSWER IS LOCKED!

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F. Naz, Chartered Accountant
Category: Homework
Satisfied Customers: 4105
Experience: Experience with chartered accountancy
F. Naz and 3 other Homework Specialists are ready to help you
Expert:  F. Naz replied 1 year ago.
Hi Sherry

I'm just following up with you to see how everything is going. Did my answer help?


Let me know
Customer: replied 1 year ago.
Yes. Thanks
Expert:  F. Naz replied 1 year ago.
You are welcome

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