Meyliev Obid Rakhmatullaevich
Independent researcher of Tashkent Financial Institute
ORCID:0000-0002-8586-8858
Abstract. The article illustrates the characteristics of property land tax, its importance in the formation of the revenues of local budgets, the formation of the amount of land tax according to types of taxpayers. Moreover, the current state of receipts from land tax to local budgets are investigated, as well as the existing problems in the process of performing an econometric analysis of factors affecting the revenues of local budgets and some suggestions are provided as a solution.
Although, one of the main sources of income of local budgets is land tax, their shares in budget revenues are not significant. Because there are still a number of problems in the land tax within the implementation mechanism, including the imbalances in the determination of land tax rates, problems in determining the credit rating of land, and the fact that the applied tax incentives do not have a positive effect in practice.
In world practice, land tax is one of the vital tax with its regulatory and financial character among taxes for the use of land resources and environmental protection.
Today, despite the establishment and implementation of a number of measures to increase the importance of land tax in our country, some problems remain, which calls for their improvement based on the requirements of the times.
There is no possibility to assess the impact of land tax on the effective and rational use of land resources by economic entities, as taking into consideration the number of taxpayers and used land plots in the land tax mechanism in our Republic of Uzbekistan. This, in turn, indicates the need to create an opportunity to determine their value during the introduction of real estate tax in our country by rationally using the positive experience of developed countries.
As a result of econometric modeling of incomes of local budgets based on Panel models in this article, it was determined that the increase in income from land tax and the number of legal entities paying land tax is the most important factor affecting the increase in incomes of local budgets. In conclusion, the article focuses on the possibilities of ensuring the stability of local budgets’ incomes as a result of improving the income from land tax.
Keywords. real estate, local budget, local budget revenues, stability of local budget revenues, land resources, land tax, local governments