Global Recurrent Immovable Property Tax Revenue Perceived by a Local Government Share by Country (Million US Dollars)

In 2023, countries such as Brazil and South Africa led, with Brazil taking a commanding share of global recurrent immovable property tax revenue perceived by local governments. Significant year-on-year increases were notable in the Philippines and Peru, driven by economic growth. Mongolia stood out with a robust 9% growth, reflecting policy shifts towards increased taxation efficiency. Conversely, France and Switzerland experienced minor declines, indicating potential policy changes or economic slowdowns.

Looking ahead, expect developing countries like the Philippines to continue strong growth, fueled by urban expansion and reform in local tax administration. Close monitoring is advised for potential growth in traditionally lower-revenue regions adapting new policy paradigms.