The Connection Between House Price Appreciation And Property Tax Revenues

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The Connection Between House Price Appreciation And Property Tax Revenues

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Author : Byron F. Lutz
language : en
Publisher:
Release Date : 2008

The Connection Between House Price Appreciation And Property Tax Revenues written by Byron F. Lutz and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with categories.

Housing Crisis And State And Local Government Tax Revenue

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Author : Byron Lutz
language : en
Publisher: DIANE Publishing
Release Date : 2011-05

Housing Crisis And State And Local Government Tax Revenue written by Byron Lutz and has been published by DIANE Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-05 with Business & Economics categories.

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.

House Prices Property Tax Revenues During The Boom Bust

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Author : Christopher B. Goodman
language : en
Publisher:
Release Date : 2018

House Prices Property Tax Revenues During The Boom Bust written by Christopher B. Goodman and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.

Although 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.

Can Property Taxes Reduce House Price Volatility Evidence From U S Regions

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Author : Mr.Tigran Poghosyan
language : en
Publisher: International Monetary Fund
Release Date : 2016-11-10

Can Property Taxes Reduce House Price Volatility Evidence From U S Regions written by Mr.Tigran Poghosyan and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-11-10 with Business & Economics categories.

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.

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Author :
language : en
Publisher:
Release Date : 16??

written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 16?? with categories.

Stabilisation Properties Of Immovable Property Taxation

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Author :
language : en
Publisher:
Release Date : 2015

Stabilisation Properties Of Immovable Property Taxation written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.

Taxing Immovable Property Revenue Potential And Implementation Challenges

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Author : Mr.John Norregaard
language : en
Publisher: International Monetary Fund
Release Date : 2013-05-29

Taxing Immovable Property Revenue Potential And Implementation Challenges written by Mr.John Norregaard and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-05-29 with Business & Economics categories.

The tax on immovable property has been characterized as probably the most unpopular among tax instruments, in part because it is salient and hard to avoid. But economists continue to emphasize the virtues of the property tax owing to its relatively low efficieny costs, benign impact on growth, and high score on fairness. It is, therefore, generally considered to be underutilized in most countries. This paper takes stock of the arguments for using real property taxation, and presents an updated data-set for high-and middle income countries to illustrate its use. It also reflects the renewed and widespread interest in property tax reform globally, and discusses the many policy and administrative issues that must be carefully considered as prerequisites for successful property tax reform.

The Property Tax In China

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Author : Yilin Hou
language : en
Publisher: Springer
Release Date : 2014-11-20

The Property Tax In China written by Yilin Hou and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-11-20 with Business & Economics categories.

This monograph offers a detailed analysis of the creation, pilot implementation, and possible wide adoption of the real property tax at the local level in China. Starting in 2003, as China’s economy gradually recovered from the Asian financial crisis that started in 1998, the real property market entered a period of rapid expansion, followed immediately by rampant speculation, rising housing costs, and official corruption. Over the last ten years, the price of real property in most cities has more than tripled, especially in metropolitan areas. In an effort to curb this, the government has instituted a number of property-market controls, including property tax pilot programs in Shanghai and Chongqing. While this is the latest of a number of fiscal reforms, it is a very important one that carries with it the ability to change the landscape of public finance, intergovernmental relations, and local governance in China. It represents a fundamental change in the provision of public services, the relationship between local governments and tax payers, and the status of localities in the government structure. Taking a public choice perspective, the authors argue that the local property tax should be used not solely as a means of controlling housing prices but should be fully employed as a fiscal and budgetary institution that will contribute to mitigating multifarious socio-economic problems resulting from economic growth, rapid urbanization, and widening income disparity. As this program is the first of its kind, so this book is the first detailed study of property tax in China; as such, it will appeal to researchers of public finance and public policy. It will also be of great interest to policymakers in China and in other countries that are considering adopting or reforming their versions of the local property tax. It fills the gap in a growing body of literature about the inner workings of Chinese economics and policy.

Property Taxation Effects On Land Use And Local Government Revenues

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Author : Library of Congress. Congressional Research Service
language : en
Publisher:
Release Date : 1971

Property Taxation Effects On Land Use And Local Government Revenues written by Library of Congress. Congressional Research Service and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1971 with Real property tax categories.

Oecd Tax Policy Studies Housing Taxation In Oecd Countries

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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2022-07-21

Oecd Tax Policy Studies Housing Taxation In Oecd Countries written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-07-21 with categories.

Housing Taxation in OECD Countries provides a comparative assessment of housing tax policies in OECD countries and identifies options for reform. The study starts with an overview of recent housing market trends and challenges and an analysis of the distribution of housing assets.