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Optimal redistributive wealth taxation when wealth is more than just capital
Franks, Max; Edenhofer, Ottmar - 2020
We show how normative standpoints determine optimal taxation of wealth. Since wealth is not equal to capital, we find very different welfare implications of land rent-, bequest- and capital taxation. It is mainly land rents that should be taxed. We develop an overlapping generations model with...
Persistent link: https://www.econbiz.de/10012162503
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Property taxes and housing allocation under financial constraints
Coven, Joshua; Golder, Sebastian; Gupta, Arpit; Ndiaye, … - 2024
Property taxes impact the housing distribution across generations. Low property taxes lead to concentrated ownership among elderly empty-nesters, limiting housing for financially constrained young families. Conversely, high property taxes act as a “forced mortgage,” reducing upfront...
Persistent link: https://www.econbiz.de/10014578550
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Social construction and the progressivity of local tax relief
Dahan, Momi - 2021
This paper reveals a noticeable difference between a high degree of progressivity of incomerelated local property tax relief versus the proportional or regressive incidence of recognition tax relief. Recognition tax relief is tax relief given to specified social sectors which recognizes either...
Persistent link: https://www.econbiz.de/10012612963
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Welfare effects of property taxation
Löffler, Max; Siegloch, Sebastian - 2021
We analyze the welfare implications of property taxation. Using a sufficient statistics approach, we show that the tax incidence depends on how housing prices, labor and other types of incomes as well as public services respond to property tax changes. Empirically, we exploit the German...
Persistent link: https://www.econbiz.de/10012489634
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Property tax competition : a quantitative assessment
Borck, Rainald; Oshiro, Jun; Satō, Yasuhiro - 2022
We develop a model of property taxation and characterize equilibria under three alternative taxation regimes often used in the public finance literature: decentralized taxation, centralized taxation, and "rent seeking" regimes. We show that decentralized taxation results in inefficiently high...
Persistent link: https://www.econbiz.de/10013411718
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In search for yardstick competition : property tax rates and electoral behavior in Italian cities
Bordignon, Massimo; Cerniglia, Floriana; Revelli, Federico - 2002
test if some theoretically derived predictions of yardstick competition theory are supported by data, estimating to this … agreement with yardstick theory. On the other hand, the results of the estimation of the popularity equation are less supportive … of the theory, possibly as a result of the difficulty in controlling for public service quality and the simultaneous …
Persistent link: https://www.econbiz.de/10011408836
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Who bears the burden of real estate transfer taxes? : evidence from the German housing market
Dolls, Mathias; Fuest, Clemens; Krolage, Carla; … - 2021
This paper examines the effects of real estate transfer taxes (RETT) on property prices using a rich micro dataset of roughly 17 million German properties for the period from 2005 to 2019. We exploit a 2006 constitutional reform that allows states to set their own RETT rates, leading to frequent...
Persistent link: https://www.econbiz.de/10012417752
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Anticipated property tax increases and the timing of home sales : evidence from administrative data
Hoyt, William H.; Yelowitz, Aaron S. - 2016
Restrictions imposed on property assessment practices by state legislation such as Proposition 13 in California and Proposition 2 1/2 in Massachusetts can lead to significant divergences between the assessed and market values of property, particularly for households with long tenures. As...
Persistent link: https://www.econbiz.de/10011580685
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Tax housing or land? : distributional effects of property taxation in Germany
Barbosa, Rafael; Skipka, Simon - 2019
Despite its theoretical merits, Land Value Taxation (LVT) is not a common policy instrument in most countries. One of the main reasons is uncertainty regarding its distributional impacts. This uncertainty has not been settled by the literature, due to a lack of appropriate data at the household...
Persistent link: https://www.econbiz.de/10012157296
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Tax and occupancy of business properties : theory and evidence from UK business rates
Lockwood, Ben; Simmler, Martin; Tam, Hiu - 2023
We study the impact of commercial property taxation on vacancy rates and rents in the UK, using a new data-set, and exploiting exogenous variations in property tax rates from reliefs in the UK system: small business rate relief (SBRR), retail relief and empty property relief. We estimate that...
Persistent link: https://www.econbiz.de/10013536116