Author: Publisher:
ISBN:
Category : Local finance
Languages : en
Pages : 14
Book Description
Property Tax Reductions to Diminish as Housing Market Improves
Author: Can Property Taxes Reduce House Price Volatility? Evidence from U.S. Regions
Author: Mr.Tigran PoghosyanPublisher: International Monetary Fund
ISBN: 1475552793
Category : Business & Economics
Languages : en
Pages : 26
Book Description
We 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.
Housing Crisis and State and Local Government Tax Revenue
Author: Byron LutzPublisher: DIANE Publishing
ISBN: 1437940021
Category : Business & Economics
Languages : en
Pages : 51
Book Description
State 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.
The Tax Treatment of Homeownership
Author: Joshua E. GreenePublisher:
ISBN:
Category : Home ownership
Languages : en
Pages : 104
Book Description
Housing Markets and the Economy
Author: Karl E. CasePublisher: Lincoln Inst of Land Policy
ISBN: 9781558441842
Category : Business & Economics
Languages : en
Pages : 417
Book Description
Based on the work of Karl "Chip" Case, who is renowned for his scientific contributions to the economics of housing and public policy, this is a must read during a time of restructuring our nation's system of housing finance.
Property Taxes and Elderly Mobility
Author: Hui ShanPublisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
The recent housing market boom in the U.S. has caused sharp increases in residential property taxes. Housing-rich but income-poor elderly homeowners often complain about rising tax burdens, and anecdotal evidence suggests that some move to reduce their tax burden. There has been little systematic analysis, however, of the link between property tax levels and the mobility rate of elderly homeowners. This paper investigates this link using household-level panel data from the Health and Retirement Study (HRS) and a newly collected dataset on state-provided property tax relief programs. These relief programs generate variation in effective property tax burdens that is not due solely to arguably endogenous local community choices about taxes and expenditure programs. The findings provide evidence suggesting that higher property taxes raise mobility among elderly homeowners. The point estimates from instrumental variable estimation using relief programs to generate instruments suggest that a $100 increase in annual property taxes is associated with a 0.76 percentage point increase in the two-year mobility rate for homeowners over the age of 50. This is an eight percent increase from the baseline two-year mobility rate of nine percent. These results are robust to alternative specifications.
Tax Reform and Real Estate
Author: James R. FollainPublisher: University Press of America
ISBN:
Category : Real estate investment
Languages : en
Pages : 268
Book Description
Property Tax Restraints and Housing Availability
Author: Gary HackReducing Property Taxes to Promote Industrial Development
Author: Publisher:
ISBN:
Category : Industrial promotion
Languages : en
Pages : 110
Book Description
Income Averaging
Author: United States. Internal Revenue ServicePublisher:
ISBN:
Category : Income averaging
Languages : en
Pages : 8
Book Description