Abstract
This article on issues related to real property taxes has two parts. Part One deliberates the concept of sustainable development as well as Lithuania’s real property taxation system and possible ways to improve it. Part Two analyses various methods of land assessment. The objectives of this paper are to analyze the importance of a tax on real property within the taxation system of Lithuania and to plan the implementation of such a reform in the future. A tax on land is presented as one alternative for a reform of the taxation system on real property in Lithuania.
Highlights
For many years, taxes are the main source of revenue for every state for its vitality and implementation of its functions
In particular property taxation has the oldest history and, without it, many states, including Lithuania, would not be able to mange in today's world
The land value tax encourages landowners to use the possibilities legalized by territorial planning and to use their land with economic expedience and efficiency
Summary
Taxes are the main source of revenue for every state for its vitality and implementation of its functions. In particular property taxation has the oldest history and, without it, many states, including Lithuania, would not be able to mange in today's world. Taxes are an essential component of national development. They facilitate social development but they are the main source of national income. Real property taxes are among the oldest types of taxes, and countries would not be able to exist without them today either. It is an excellent source of revenue for any municipality for cultural, educational, social and other public needs
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