The Connection Between House Price Appreciation and Property Tax Revenues
Author : Byron F. Lutz
Publisher :
Page : 38 pages
File Size : 11,42 MB
Release : 2008
Category :
ISBN :
Author : Byron F. Lutz
Publisher :
Page : 38 pages
File Size : 11,42 MB
Release : 2008
Category :
ISBN :
Author : Byron Lutz
Publisher : DIANE Publishing
Page : 51 pages
File Size : 30,62 MB
Release : 2011-05
Category : Business & Economics
ISBN : 1437940021
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.
Author : Christopher B. Goodman
Publisher :
Page : 22 pages
File Size : 33,2 MB
Release : 2018
Category :
ISBN :
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.
Author :
Publisher :
Page : 14 pages
File Size : 41,45 MB
Release : 2014
Category : Local finance
ISBN :
Author : Mr.Tigran Poghosyan
Publisher : International Monetary Fund
Page : 26 pages
File Size : 14,56 MB
Release : 2016-11-10
Category : Business & Economics
ISBN : 1475552793
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.
Author : Dick Netzer
Publisher :
Page : 72 pages
File Size : 37,56 MB
Release : 1968
Category : Cities and towns
ISBN :
Author : Richard E. Slitor
Publisher :
Page : 172 pages
File Size : 12,88 MB
Release : 1968
Category : Cities and towns
ISBN :
Author : Daphne A. Kenyon
Publisher : Lincoln Inst of Land Policy
Page : 63 pages
File Size : 17,69 MB
Release : 2007
Category : Business & Economics
ISBN : 9781558441682
States experiencing taxpayer revolts among homeowners are tempted to reduce reliance on the property tax to fund schools. But a more targeted approach can provide property tax relief and improve state funding for public education. This policy focus report includes a comprehensive review of recent research on both property tax and school funding, and summarizes case studies of seven states-- California, Massachusetts, Michigan, New Hampshire, New Jersey, Ohio and Texas. The majority of these states are heavily reliant on property tax revenues to fund schools. While there is no one-size-fits-all solution, the report recommends addressing property taxes and school funding separately.
Author : Joshua E. Greene
Publisher :
Page : 100 pages
File Size : 45,84 MB
Release : 1981
Category : Home ownership
ISBN :
Author : James R. Follain
Publisher : University Press of America
Page : 268 pages
File Size : 45,72 MB
Release : 1986
Category : Real estate investment
ISBN :