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Property Transfer Tax and Housing Consumption

Property Transfer Tax and Housing Consumption PDF Author: Surk-tae Kim
Publisher:
ISBN:
Category : Real estate sales tax
Languages : en
Pages : 154

Book Description

Property Transfer Tax and Housing Consumption

Property Transfer Tax and Housing Consumption PDF Author: Surk-tae Kim
Publisher:
ISBN:
Category : Real estate sales tax
Languages : en
Pages : 154

Book Description

Housing Crisis and State and Local Government Tax Revenue

Housing Crisis and State and Local Government Tax Revenue PDF Author: Byron Lutz
Publisher: 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 Real Property Transfer Tax

The Real Property Transfer Tax PDF Author: Wilma Smith Mayers
Publisher:
ISBN:
Category :
Languages : en
Pages : 238

Book Description

The Housing Crisis and State and Local Government Tax Revenue

The Housing Crisis and State and Local Government Tax Revenue PDF Author: Byron F. Lutz
Publisher:
ISBN:
Category :
Languages : en
Pages : 0

Book Description
State and local government tax revenues dropped steeply following the most severe housing market contraction since the Great Depression. We identify five main channels through which the housing market affects state and local tax revenues: property tax revenues, transfer tax revenues, sales tax revenues (including a direct effect through construction materials and an indirect effect through the link between housing wealth and consumption), and personal income tax revenues. We find that property tax revenues do not tend to decrease following house price declines. We conclude that the resilience of property tax receipts is due to significant lags between market values and assessed values of housing and the tendency of policy makers to offset declines in the tax base with higher tax rates. The other four channels have had a relatively modest effect on state tax revenues. We calculate that these channels jointly reduced tax revenues by $15 billion from 2005 to 2009, which is about 2 percent of total state own-source revenues in 2005. We conclude that the recent contraction in state and local tax revenues has been driven primarily by the general economic recession, rather than the housing market per-se.

Housing Taxation

Housing Taxation PDF Author: Walter Albert Morton
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 280

Book Description

Housing Demand and Property Tax Incidence in a Life-cycle Framework

Housing Demand and Property Tax Incidence in a Life-cycle Framework PDF Author: Seth B. Sacher
Publisher:
ISBN:
Category : Housing
Languages : en
Pages : 52

Book Description

Impact of the Property Tax

Impact of the Property Tax PDF Author: Dick Netzer
Publisher:
ISBN:
Category : Cities and towns
Languages : en
Pages : 70

Book Description

The Incidence of the Residential Property Tax in a System of Communities

The Incidence of the Residential Property Tax in a System of Communities PDF Author: Jan K. Brueckner
Publisher:
ISBN:
Category : Property tax
Languages : en
Pages : 32

Book Description
This paper analyses the incidence of the residential property tax in an economy with two communities. Mobility is assumed for workers so that their utility levels are equal in the two communities in equilibrium. The property tax is modelled as an ad valorem tax on housing services.

Balancing Financial Stability and Housing Affordability: The Case of Canada

Balancing Financial Stability and Housing Affordability: The Case of Canada PDF Author: Mr.Troy D Matheson
Publisher: International Monetary Fund
ISBN: 151351069X
Category : Business & Economics
Languages : en
Pages : 21

Book Description
Housing market imbalances are a key source of systemic risk and can adversely affect housing affordability. This paper utilizes a stylized model of the Canadian economy that includes policymakers with differing objectives—macroeconomic stability, financial stability, and housing affordability. Not surprisingly, when faced with multiple objectives, deploying more policy instruments can lead to better outcomes. The results show that macroprudential policy can be more effective than policies based on adjusting propertytransfer taxes because property-tax policy entails excessive volatility in tax rates. They also show that if property-transfer taxes are used as a policy instrument, taxes targeted at a broader-set of homebuyers can be more effective than measures targeted at a smaller subset of homebuyers, such as nonresident homebuyers.

Property Taxes, Homeownership Capitalization Rates, and Housing Consumption

Property Taxes, Homeownership Capitalization Rates, and Housing Consumption PDF Author: William T. Bogart
Publisher:
ISBN:
Category : Property tax
Languages : en
Pages : 32

Book Description

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