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The Property Tax as a Coordinating Device : Financing Indiana'S Mammoth Internal Improvement System, 1835 to 1842

Wallis, John Joseph - 2021

The state of Indiana set out to build a Mammoth system of canals, railroads, and turnpikes in 1836, after a decade of intense debate in which sectional rivalries prevented any state action. This paper investigates the role played by the adoption of an ad valorem property tax in ameliorating the...

Persistent link: https://www.econbiz.de/10013227788

The Hated Property Tax : Salience, Tax Rates, and Tax Revolts

Cabral, Marika - 2012

Because of the obtrusive manner in which they are normally paid, property taxes are likely the most salient taxes in the U.S. However, they are much less salient to homeowners with tax escrow. Exploiting geographical variation in tax escrow, we test how salience affects property tax rates and...

Persistent link: https://www.econbiz.de/10013098472

Property Taxation, Zoning, and Efficiency : A Dynamic Analysis

Coate, Stephen - 2011

This paper revisits the classic argument that a system of local governments financing public service provision via property taxes will produce an efficient allocation of both housing and services if communities can implement zoning ordinances. The novel feature of the analysis is a dynamic model...

Persistent link: https://www.econbiz.de/10013123687

Tax Benefits to Housing and Inefficiencies in Location and Consumption

Albouy, David - 2014

Tax benefits to owner-occupied housing provide incentives for housing consumption, offsetting weaker disincentives of the property tax. These benefits also help counter the penalty federal taxes impose on households who work in productive high-wage areas, but reinforce incentives to consume...

Persistent link: https://www.econbiz.de/10013060685

Perception of House Price Risk and Homeownership

Adelino, Manuel - 2018

This paper analyzes the importance of household perceptions of house price risk in explaining homeownership choice … rent are strongly correlated with perceptions of house price risk. Households' exposure to housing risk due to financial … constraints, expected mobility or labor income risk affect the decision to buy versus rent but do not mitigate the impact of risk …

Persistent link: https://www.econbiz.de/10012910636

Arbitrage in Housing Markets

Glaeser, Edward L. - 2015

Urban economists understand housing prices with a spatial equilibrium approach that assumes people must be indifferent across locations. Since the spatial no arbitrage condition is inherently imprecise, other economists have turned to different no arbitrage conditions, such as the prediction...

Persistent link: https://www.econbiz.de/10012750289

Racial Segregation in Housing Markets and the Erosion of Black Wealth

Akbar, Prottoy - 2019

Housing is the most important asset for the vast majority of American households and a key driver of racial disparities in wealth. This paper studies how residential segregation by race eroded black wealth in prewar urban areas. Using a novel sample of matched addresses from prewar American...

Persistent link: https://www.econbiz.de/10012871151

Liquidity Constraints and Housing Prices : Theory and Evidence from the Va Mortgage

Vigdor, Jacob L. - 2010

This paper employs a simple intertemporal model to show that presence of liquidity constraints can depress the price of a durable good below its net present rental value, regardless of the overall supply elasticity. The existence of price effects implies that the relaxation of liquidity...

Persistent link: https://www.econbiz.de/10012762617

Owner-Occupied Housing as a Hedge Against Rent Risk

Sinai, Todd M. - 2012

in house values. However, homeownership also provides a hedge against fluctuations in future rent payments. This paper … households so housing market risk actually increases homeownership rates and house prices. Further, the net effect of rent risk … on the demand for homeownership increases with a household's expected length of stay in its home, as the cumulative rent …

Persistent link: https://www.econbiz.de/10012755861

The Labor Market Consequences of Refugee Supply Shocks

Borjas, George J. - 2016

The continuing inflow of hundreds of thousands of refugees into many European countries has ignited much political controversy and raised questions that require a fuller understanding of the determinants and consequences of refugee supply shocks. This paper revisits four historical refugee...

Persistent link: https://www.econbiz.de/10012982930