The Connection Between House Price Appreciation and Property Tax Revenues
Author: Byron F. Lutz
Publisher:
Published: 2008
Total Pages: 38
ISBN-13:
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Author: Byron F. Lutz
Publisher:
Published: 2008
Total Pages: 38
ISBN-13:
DOWNLOAD EBOOKAuthor: Byron Lutz
Publisher: DIANE Publishing
Published: 2011-05
Total Pages: 51
ISBN-13: 1437940021
DOWNLOAD EBOOKState and local government tax revenues dropped steeply following the most severe housing market contraction since the Great Depression. The authors identify five main channels through which the housing market affects state and local tax revenues: property tax revenues, transfer tax revenues, sales tax revenues, and personal income tax revenues. They find that property tax revenues do not tend to decrease following house price declines. The other four channels have had a relatively modest effect on state tax revenues. These channels jointly reduced tax revenues by $15 billion from 2005 to 2009, which is about 2% of total state own-source revenues in 2005. Charts and tables. This is a print on demand publication.
Author: Mr.Tigran Poghosyan
Publisher: International Monetary Fund
Published: 2016-11-27
Total Pages: 26
ISBN-13: 1475557086
DOWNLOAD EBOOKWe use a novel dataset on effective property tax rates in U.S. states and metropolitan statistical areas (MSAs) over the 2005–2014 period to analyze the relationship between property tax rates and house price volatility. We find that property tax rates have a negative impact on house price volatility. The impact is causal, with increases in property tax rates leading to a reduction in house price volatility. The results are robust to different measures of house price volatility, estimation methodologies, and additional controls for housing demand and supply. The outcomes of the analysis have important policy implications and suggest that property taxation could be used as an important tool to dampen house price volatility.
Author:
Publisher:
Published: 2014
Total Pages: 14
ISBN-13:
DOWNLOAD EBOOKAuthor: Christopher B. Goodman
Publisher:
Published: 2018
Total Pages: 22
ISBN-13:
DOWNLOAD EBOOKAlthough the Great Recession put the U.S. economy into a tailspin, we know little about how the changes in house prices influenced property tax collections. Using local level housing data from Zillow matched to property tax data from 1998 to 2012, two questions are examined. First, the elasticity of property tax revenue with respect to house values is estimated. Second, the timing of this elasticity is determined. The analysis rules out that local policymakers capture the entire increase of house value in property tax revenues but unable to rule out that increases in house values are completely offset by changes in effective property tax rates. Decreases in values have an elasticity between 0.3 and 0.4 and take three years for changes in values to impact property tax revenues. While property tax collections declined, local policymakers adjusted effective millage rates such that revenues did not decline as much as home values.
Author: Arthur D. Little, Inc
Publisher:
Published: 1973
Total Pages: 348
ISBN-13:
DOWNLOAD EBOOKAuthor: Joshua E. Greene
Publisher:
Published: 1981
Total Pages: 104
ISBN-13:
DOWNLOAD EBOOKAuthor: Dick Netzer
Publisher:
Published: 1968
Total Pages: 72
ISBN-13:
DOWNLOAD EBOOKAuthor: John Yinger
Publisher: Elsevier
Published: 2013-10-22
Total Pages: 233
ISBN-13: 1483265765
DOWNLOAD EBOOKProperty Taxes and House Values: The Theory and Estimation of Intrajurisdictional Property Tax Capitalization explains the link between property taxes and house values and elaborates public policies that alter property taxes, such as assessment reform and state aid. This book introduces the concept of property tax capitalization and discusses the importance of tax capitalization for public policy. The topics include the simple algebra of property tax capitalization, inherent econometric difficulties, and household utility maximization problem. The anticipation of revaluation, revaluation in Brockton, and nonlinear two-stage least squares estimator are also described. This text likewise covers the estimates of the degree of property tax capitalization and horizontal equity of tax rate changes. This publication is recommended for academics, public officials, and homeowners.
Author: Seth B. Sacher
Publisher:
Published: 1991
Total Pages: 52
ISBN-13:
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