• Table of Contents
    • Abstract
    • Keywords
    • Article
      • Types of wealth taxation
        • Property taxation
        • Estate and inheritance taxation
        • Net worth taxation
        • Capital levies
      • The economic effects of wealth taxation
        • The ‘single tax’
        • Taxation and risk-taking
        • The Tiebout hypothesis
        • Bequests and the estate tax
        • Policy changes and implicit wealth taxes
    • See Also
    • Bibliography
    • How to cite this article

taxation of wealth

Alan J. Auerbach
From The New Palgrave Dictionary of Economics, Second Edition, 2008
Edited by Steven N. Durlauf and Lawrence E. Blume
Alternate versions available: 1987 Edition
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Abstract

One of the oldest forms of taxation, wealth taxes may take the form of annual taxes based on property or net worth, or assessments collected at less regular intervals, on estates or inheritances or in the form of emergency capital levies. Wealth taxes are still prominent but have become less important than income taxes as a source of revenue. Although wealth taxes are related in structure to taxes on capital income, their economic effects depend on their form. In addition to explicit taxes on wealth, governments impose implicit capital levies through changes in tax policy.
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Keywords

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Article

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How to cite this article

Auerbach, Alan J. "taxation of wealth." The New Palgrave Dictionary of Economics. Second Edition. Eds. Steven N. Durlauf and Lawrence E. Blume. Palgrave Macmillan, 2008. The New Palgrave Dictionary of Economics Online. Palgrave Macmillan. 22 November 2017 <http://www.dictionaryofeconomics.com/article?id=pde2008_T000025> doi:10.1057/9780230226203.1685

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