Some analysts blame the large state discretionary revenue increases of the early 1990's on recessionary declines in revenue and on federally mandated spending increases. Others cite rapid increases in state government spending, particularly on employee compensation, during the 1980's. Test the...

Shows that when interest rates rise above the penalty rate on delinquent property taxes, taxpayers have an incentive to delay their property tax payments, using their local governments as cheap credit sources. States that property tax delinquency as a percent of the tax levy should rise with the...