Taxes

It’s difficult to assess the net worth of the world’s super-rich. Havens like the Cayman Islands, Switzerland and Hong Kong are happy to stash their cash, offering privacy and a shelter (often perfectly legal) from taxes. And without knowing how rich the rich are, we can’t make an accurate assessment of income inequality.

A new study suggests taxing sugar instead of soda is a more effective way to help people cut calories.

Let’s say your city needs cash to build a new school or sewer system. The budget lacks funds and the state government is only willing to pay a small share. What does your city do? Most likely, it issues a municipal bond.

So the city you cover is considering raising property taxes and your editor wants a story today. If you’re like many journalists, you didn’t get a lot of training in college on municipal budgets. Where do you begin? We’re here to give you some pointers.

Writing about property taxes, a main revenue source for local government, can be complicated. But we can get started by asking these three questions:

To understand the underlying structure of any county, city, municipal or town budget or fiscal situation, it is necessary to inquire how much legal power a local community has over its own ability to pass laws, tax and spend.