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In this article, the authors examine residential real estate taxation in some European countries. The authors outline the types of direct and indirect real estate taxes, present statistical data to demonstrate the structure of and tax yield and offer conclusions regarding the impact of tax...
Persistent link: https://www.econbiz.de/10012857346
Persistent link: https://www.econbiz.de/10013052837
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...
Persistent link: https://www.econbiz.de/10013053128
With Toronto City Council due to discuss an increase in the land transfer tax (LTT) on highend homes at an upcoming meeting, this independent analysis of the impacts of such a move is intended to help inform the deliberations. In this E-Brief, we evaluate the economic cost of raising LTT...
Persistent link: https://www.econbiz.de/10013290622
While there is a rich literature on both the spatial impact of taxation and the optimal composition of differential classified taxes, there is a paucity of research on the role of spatial land competition in the choice of these taxes. This paper analyzes the distortion minimizing choice of a...
Persistent link: https://www.econbiz.de/10013033630
According to Homburg's (2014) comment on Kim and Lee (1997), an ad-valorem property tax on land cannot cause dynamic ineffciency of equilibrium allocations in an overlapping-generations model unless the tax is "confiscatory", i.e., equal to or greater than land rents. With such a tax, Homburg...
Persistent link: https://www.econbiz.de/10012830077
A recent paper by Brunetti (2006) examines whether the US estate tax forces heirs with insufficient liquid assets to sell inherited businesses in order to pay the estate tax. It concludes that the estate tax has a positive effect on such sales. This note highlights features of the estate tax and...
Persistent link: https://www.econbiz.de/10012720086
In ricardianischer Sichtweise ließe sich die Europäische Union in Länder der Peripherie und Kernländer aufteilen, wobei die Peripherie durch geringere Faktorentgelte charakterisiert ist. Die Bodenrente als Residuum der übrigen Faktorentgelte ist im Kern höher als am Rand und im Laufe der...
Persistent link: https://www.econbiz.de/10010190881
Financing productive public capital through distortionary taxes typically creates a trade-off: the optimal investment is determined as a compromise between efficiency-enhancing public investment and perturbing market efficiency, but is never socially optimal. In contrast, such a trade-off can...
Persistent link: https://www.econbiz.de/10013315757
We show that the optimal property tax rate rises with the ratio of land rents to structure and land development costs. California's high ratio of income to property tax revenue and the distribution of Federal housing subsidies thus appear geographically misplaced. Proportional taxation of...
Persistent link: https://www.econbiz.de/10013318402