Download or read book Intrajurisdictional Capitalization and the Incidence of the Property Tax written by George Zodrow and published by . This book was released on 2014 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: Two views dominate the debate about property tax incidence -- the “capital tax” or “new” view, under which the tax distorts capital allocation and is borne primarily by capital owners, and the “benefit tax” view, under which the tax is an efficient user charge. Evidence of both interjurisdictional and intrajurisdictional capitalization of property taxes and public services has been argued to provide compelling evidence for the benefit tax view. This paper focuses on the latter -- the intra-jurisdictional capitalization effects that underlie what is arguably the most plausible derivation of the benefit tax view of the property tax. The analysis provides a model in which the capital reallocations that characterize the capital tax view induce intrajurisdictional capitalization effects that are generally similar -- indeed, in the benchmark case, identical -- to those that arise under the benefit tax view, suggesting that empirical evidence supporting such capitalization effects cannot distinguish between the two views. In addition, the analysis shows that these capitalization effects imply that even under the stringent assumptions of the benefit view, the property tax is not a benefit tax for a property-tax-financed increase in local public services; rather, it only becomes a benefit tax for future home purchasers -- after the modeled intrajurisdictional capitalization effects occur.

Download or read book Property Taxes and House Values written by John Yinger and published by Elsevier. This book was released on 2013-10-22 with total page 233 pages. Available in PDF, EPUB and Kindle. Book excerpt: Property Taxes and House Values: The Theory and Estimation of Intrajurisdictional Property Tax Capitalization explains the link between property taxes and house values and elaborates public policies that alter property taxes, such as assessment reform and state aid. This book introduces the concept of property tax capitalization and discusses the importance of tax capitalization for public policy. The topics include the simple algebra of property tax capitalization, inherent econometric difficulties, and household utility maximization problem. The anticipation of revaluation, revaluation in Brockton, and nonlinear two-stage least squares estimator are also described. This text likewise covers the estimates of the degree of property tax capitalization and horizontal equity of tax rate changes. This publication is recommended for academics, public officials, and homeowners.

Download or read book THE CAPITALIZATION OF THE PROPERTY TAX written by Darwin W. Daicoff and published by . This book was released on 1961 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Capitalization of Local Property Taxes and Public Services with Applications to Efficiency and Equity Issues written by Anwar Muhammad Chaudry and published by . This book was released on 1983 with total page 482 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Property Tax Incidence written by Robert C. Denne and published by . This book was released on 1977 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Incidence of the Local Property Tax written by Peter M. Mieszkowski and published by . This book was released on 1984 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: The article identifies the key assumptions that underlie competing theories of the incidence of the local property tax. We conclude that the"benefit view" which maintains that the property tax system is equivalent to a set of non-distortionary user changes is correct only under very restrictive assumptions. Only when communities adopt a set of exact, binding zoning requirements will a distortionary tax be transformed into a lump-sum tax. We argue that within jurisdiction heterogeneity of house and firm typeis very unlikely and that the burden of a property tax that is distortionary at the margin falls on the owners of capital.

Download or read book Revisiting Property Tax Capitalization written by Xueying Lyu and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the extent of property tax capitalization in the context of a progressive property tax pilot in Shanghai. I utilize a difference-in-differences approach by comparing neighborhoods with different tax rates before and after the implementation of the property taxes. Neighborhoods with a 0.2 percentage point higher marginal property tax rate experience a roughly 3.5% decrease in housing prices relative to their counterparts. The result reflects that 91% of property tax liabilities are capitalized into housing prices. These changes also imply a large wealth redistribution as large as 3.4 years of average disposable income across homeowners.

Download or read book The Regressivity of the Property Tax written by Allan Odden and published by . This book was released on 1976 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Local Property and State Income Taxes written by Thomas J. Nechyba and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper addresses two long-standing positive questions in public finance: 1) Why is the property tax, despite widespread popular complaints against its fairness, the almost exclusive tax instrument used by local governments; and 2) why do we consistently observe higher levels of governments (states) undermining local property tax systems through income tax, funded grants and state-imposed caps on local property tax rates? A new intuitive argument to explain question 1 is presented and tested in simulations using a computable general equilibrium model with parameters set to be consistent with New Jersey data. Both the intuitive argument and the simulation results indicate that setting local income tax rates to zero is a dominant strategy for community planners. When faced with popular sentiment against the property tax, community planners can collude and introduce local income taxes simultaneously to prevent adverse general equilibrium migration and price changes. Since zero income tax rates are dominant strategies, however, such an agreement is enforceable only if an outsider such as the state government steps in. The institution of state grants funded through a state income tax can play such an enforcement role.

Download or read book Capitalization of the Property Tax written by Edward Michael Sabella and published by . This book was released on 1971 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Capitalization of the Property Tax written by William Bernard Conway and published by . This book was released on 1969 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Property Tax Capitalization written by Marian V. Brown and published by . This book was released on 1980 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Property Taxes Homeownership Capitalization Rates and Housing Consumption written by William T. Bogart and published by . This book was released on 1991 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Capitalization Effects of Property Tax Differentials written by Paul Johnston McNutt and published by . This book was released on 1977 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Interjurisdictional Tax and Policy Competition written by Daphne A. Kenyon and published by . This book was released on 1991 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book To prevent certain discriminatory taxation of interstate natural gas pipeline property written by and published by DIANE Publishing. This book was released on with total page 107 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book To Prevent Certain Discriminatory Taxation of Interstate Natural Gas Pipeline Property written by United States. Congress. House. Committee on the Judiciary. Subcommittee on Commercial and Administrative Law and published by . This book was released on 2006 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: