INPUT-OUTPUT MODELING AND RESOURCE USE PROJECTION

Resource /Energy Economics and Policy,

IMPACT OF INDUSTRIALIZATION ON EMPLOYEE INCOME DISTRIBUTION IN RURAL TEXAS COMMUNITIES

Labor and Human Capital,

TEXAS TAXES: A COMPARISON WITH OTHER STATES

This document is part of an educational series on Texas taxes. State and local taxes in Texas are compared with those of the fifty states and the District of Columbia. Taxes are compared per capita and per $1,000 of personal income. The taxes include: all state and local taxes, property taxes, sales and gross receipts taxes, personal income taxes, corporate income taxes and corporate franchise taxes. For each tax the national average, median, maximum and minimum are given along with the corresponding tax for Texas and Texas's rank nationally. Texas state revenue comes primarily from the sales tax and local revenue from the property tax. It is one of only four states with neither a corporate nor a personal income tax. For all state and local taxes, Texas ranks 35th per capita and 40th per$1,000 of personal income. Despite this relatively low rank among all states, tax reform is a continuing priority issue in Texas. The reason for this may be the heavy reliance on sales and property taxes to support state and local governmental services. While the overall tax burden is relatively low, the burden of these two taxes ranks relatively high and may disadvantage certain industries.Public Economics,

PROPERTY TAX AND TAX REFORM IN TEXAS: AN EQUITY CONCERN

The Governor of Texas has proposed a tax reform that lowers property tax and eliminates the franchise tax. The lost revenues are replaced by raising the sales tax and instituting a modified value-added tax. The issues are not unique to Texas, many states are considering tax issues. The current tax system is based on an economy that no longer exists and is not providing sufficient revenues. Given the changed economy of the state, modification of the tax system is reasonable. But the proposal increases regressive taxes and decreases the only progressive tax in the system. Overall the proposal is more regressive than the existing tax system.Agricultural and Food Policy,

RECREATIONAL AND AESTHETIC VALUE OF WATER USING HEDONIC PRICE ANALYSIS

Historically, water allocation focused on quantities demanded by consumptive uses. As quantity demand grows, efficient allocation among consumptive and nonconsumptive uses becomes more critical. This hedonic approach provides information regarding recreational and aesthetic (RA) value for a central Texas lake. The model indicates several statistically significant RA characteristics of housing; proximity is the most important. Waterfront properties command a premium, but marginal RA price falls rapidly with increasing distance. Marginal RA values are estimated for selected water levels and are found to have a lower marginal price per acre-foot than many agricultural uses.Demand and Price Analysis, Resource /Energy Economics and Policy,

MARGINAL PRICE OF LAKE RECREATION AND AESTHETICS: AN HEDONIC APPROACH

Efficient allocation of water requires knowledge of water's value in both consumptive and nonconsumptive uses. This study estimates the marginal value of water in lake recreational and aesthetic (RA) use. An hedonic price equation (employing the Box-Cox functional form) indicates lake front location, distance to lake, and scenic view are significant RA characteristics of housing. Water front properties command a premium price for the private access they offer. Beyond the water front, the marginal RA price falls rapidly with increasing distance, becoming asymptotic to some minimum. Twenty-two percent of housing price is found to be attributable to the RA component.Aesthetic, Box-Cox, Hedonic, Housing, Lake, Nonmarket, Recreation, Water, Resource /Energy Economics and Policy,

INTERFACING ECONOMIC AND DEMOGRAPHIC MODELS FOR RURAL AREAS: DESIGN AND METHODOLOGICAL CONSIDERATIONS

Community/Rural/Urban Development,

Economic Impact of Crop Insurance on the North Dakota State Economy

Risk and Uncertainty,

IMPLICATIONS OF FUEL SHORTAGES ON COTTON AND GRAIN SORGHUM PRODUCTION AND PRODUCER RETURNS -- SOUTHERN HIGH PLAINS OF TEXAS

Crop Production/Industries,