The transition economies of Central andEastern Europe, through the reform process ofdecentralization, are now seeking the devolution of fiscalpowers, and responsibilities from central, to localgovernments, within financially sustainable environments. Tothis end, a system of local budgets, and taxes needs to bedevised, over which local governments may have control.Thus, this report focuses on the tax on immovable realproperty, one of the most important local tax options, and,undertakes comparative analysis of tax policy formulation,within a context of rapid institutional changes. Casestudies provide insights into the policy debates, andchoices that guide the process of property tax reform, and,shed light on the entire cycle, from initial impetus, toresulting legislation, and the subsequent administrativechallenges of assessment, collection, appeal, and review.Because of the multiple roles of property taxation (as aninstrument of decentralization, an element of propertyrights, an adjunct to privatization and restitution, and asource of revenue), it is appropriate to consider itsdevelopment in multiple contexts. Therefore, the cases rangefrom first generation reformers, i.e., Poland, Estonia,Slovakia, and parts of the Russian Federation, to laterefforts in the Czech Republic and Armenia. These cases aimto broaden the understanding of available alternatives, andtheir relationship to specific political, legal, andeconomic settings.
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