Property Tax Auction Sales
We analyze sales of tax delinquent properties offered at a single property tax auction. Data on 1,073 parcels offered at the 1987 tax sale in Indianapolis are used. The two-stage Heckman selectivity model is used for the estimation. The results indicate that more valuable, developed, residential parcels located outside of the central city are more likely to sell. Higher minimum bids decrease the probability of sale. Parcels offered later in the auction are less likely to sell. The selling price is associated with a property's assessed value, with a negative premium for properties located in the city center.
Year of publication: |
1992
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Authors: | DeBoer, Larry ; Conrad, James ; McNamara, Kevin T. |
Published in: |
Land Economics. - University of Wisconsin Press. - Vol. 68.1992, 1
|
Publisher: |
University of Wisconsin Press |
Saved in:
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