The Role Of Personal Property Tax In Economic Development And Fiscal Sustainability

This study aims to examine the role of personal property tax in economic development and fiscal sustainability. It focuses on analyzing how property taxation influences local budget formation, wealth distribution, and efficient resource allocation in developing economies, particularly Uzbekistan. The research adopts a mixed-method approach combining econometric modeling, comparative analysis, and theoretical evaluation. Secondary data from national statistical agencies and international financial institutions were utilized. Regression analysis was conducted to assess the relationship between property tax revenues and regional economic growth. The results reveal that personal property tax contributes significantly to local budget revenues and promotes efficient utilization of real estate assets. A well-structured property tax system enhances fiscal stability and reduces dependency on central government transfers. This study integrates classical fiscal theory with modern public finance approaches, offering a comprehensive analytical framework for understanding the role of property taxation in emerging economies.

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