Attempts to measure the capitalization of local taxes into property prices, starting with Oates (1969), have suffered from a lack of local public service controls. We revisit this vast literature with a novel dataset of 947 time-varying local characteristic and public service controls for all...

We construct Laffer curves to evaluate the efficiency of local property tax collection based on a micro-level panel dataset referring to 2013–2016 and obtained from the Jerusalem municipality. Unlike previous literature, we apply a tractable ad hoc methodology, which, compared with the...

The tax on immovable property recently started to regain its former significance, but the tax yield still remains low, with slightly more than 1% of GDP and wide variation across countries. Against this background this paper surveys property tax policy in OECD countries and analyses the...

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...