Richard Salmon, an authority on public school finance and a longtime professor at Virginia Tech, provides a detailed account of the history and current status of financing Virginia's public school system. The system, a vast and complex arrangement, is the most significant cost to local governments and one of the largest costs to state government. Meeting K-12 education needs has become even more difficult as the state and nation continu
Knapp, a public finance expert with UVA's Cooper Center warns that Virginia's proposed "homestead" constitutional amendment, currently being considered in the General Assembly, will pose problems for local communities if it ultimately becomes part of the state constitution. The legislation would allow localities the option to exempt up to 20 percent of a home's value from real estate taxes.
While the "great recession" of 2007-09 appears to be ending in a technical sense, the worst is yet to come for Virginia's state and local governments. In the 2010-12 biennium, the state budget will experience the full force of the worst economic downturn since the 1930s, writes James J. Regimbal Jr., a leading expert on government finance policy.
Auctions are increasingly being used to allocate emissions allowances (“permits”) for cap and trade and common-pool resource management programs. These auctions create thick markets that can provide important information about changes in current market conditions. This paper reports a laboratory experiment in which half of the bidders experienced unannounced increases in their willingness to pay for permits.
The study, the first detailed assessment of the dollar magnitude of Monticello's impact, was conducted for the Thomas Jefferson Foundation, which owns and operates the only American house on the United Nations World Heritage list. It is also available on the web as a full study, a four-page summary, and a PowerPoint presentation. To order a text copy, visit our ordering information page.
This study assessed the importance of the Virginia Horse Center to the economies of Virginia and the Lexington area. The study was the third by the Cooper Center for the horse
center. The first was completed in 1991 and the second in 2001. This study did not
represent a complete update since it relied on survey inputs from the 2001
study as well as more current information.