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Author: Hui Shan Publisher: 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.
Author: Hui Shan Publisher: 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.
Author: Ron Cheung Publisher: DIANE Publishing ISBN: 1437928765 Category : Business & Economics Languages : en Pages : 40
Book Description
Since Calif. voters approved Prop. 13 in 1978, 15 states have enacted caps on the annual growth in assessed property values. Some argue that support for tax limitations is driven not by perceptions of gov¿t. inefficiency but by reasonable expectations of who will ultimately bear the tax limitation's burden. This paper explores this view by exploiting the differential tax treatment generated by assessment caps in the context of a recent, novel referendum in Florida. The authors examine voter support for a 2008 constitutional amendment that included a provision making the existing assessment cap portable within the state. High potential tax savings and high expected mobility rates result in higher support for portability. Illus. A print on demand report.
Author: Hui Shan Publisher: 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. Anecdotal evidence suggests that rising property taxes have induced elderly homeowners to increase their labor supply. This paper uses 1992-2004 panel data from the Health and Retirement Study (HRS) as well as a newly collected dataset on state-provided property tax relief programs to investigate the effect of property taxes on the labor supply of elderly homeowners. It is the first rigorous study on the link between property taxes and elderly labor supply. I examine both the extensive margin - whether elderly homeowners delay retirement or reenter the labor market in the face of rising property taxes, and the intensive margin - whether elderly homeowners work longer hours when property taxes increase. A simulated IV approach is used to address the potential endogeneity problem associated with property taxes. I find little evidence that property taxes have a significant impact on elderly homeowners' decisions to retire, to re-enter the labor force, or to increase working hours.
Author: Hui Shan
Author: Hui Shan
Author: Ron Cheung
Author: Abt Associates
Author: Abt Associates
Author: Hui Shan
Author: 
Author: Margaret Greenfield
Author: 
Author: Hui Shan
Author: Ron Cheung