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Real-Estate Investors, House Prices and Rents: Evidence from Capital-Gains Tax Changes

December 2, 2022
This report, by Yael Elster, studies the dual role of real-estate investors, households who own multiple housing units, in ownership and rental housing markets.

The Role of Property Tax in California's Housing Crisis

November 18, 2022
This report, by Paul J. Fisher, leverages differential exposure to the Proposition 13 tax laws to understand the impact of this policy on the production of housing in Southern California.

How Do Households Value the Future? Evidence from Property Taxes

November 4, 2022
This report, by Hans Koster, discusses the rate at which individuals trade present and future costs and benefits by estimating discount rates from extensive data on housing transactions and spatiotemporal variation in property taxes in England.

Appraisal Overvaluation: Evidence of Price Adjustment Bias in Sales Comparisons

October 21, 2022
This report, by Yanling G. Mayer, delves into the underlying appraisal development to identify causes of appraisal bias.

The Effects of Fiscal Decentralization on Publicly Provided Services and Labor Market

October 7, 2022
This report, by Nicola Bianchi, studies how fiscal decentralization affects local services. It explores a 1993 reform that increased the fiscal autonomy of Italian municipalities by replacing government transfers with revenues from a local property tax and how the reform affected labor markets.

Federal Tax Deductions and the Demand for Local Public Goods

September 23, 2022
This report, by Brent W. Ambrose, provides new insights into the equity of the current tax system.

To Own or to Rent? The Effects of Transaction Taxes on Housing Markets

September 9, 2022
This report, by Lu Han, finds three novel effects of a higher property transaction tax: higher buy-to-rent transactions alongside lower buy-to-own transactions, despite both being taxed; lower sales-to-leases and price-to-rent ratios; and longer time-on-the-market

Assessment Persistence

August 30, 2022
This analysis, by Daniel McMillen and Ruchi Singh, of residential assessment ratios in Cook County, Illinois for 1976 - 2020 suggests that unusually low and high assessment ratios display only a modest amount of persistence over time. Mean and median assessment rates were consistently lower than statutory rates throughout this time, apart from a short period during the Great Recessions. While lowpriced properties tend to have higher assessment rates than high-priced homes, they also are much more variable. High assessment rates in one assessment year are frequently followed by lower rates for the same property in subsequent years.

An Evaluation of the Residential Property Tax Equity in New York City

May 6, 2022

This report, by Christopher Berry, evaluates property tax regressivity and its causes in New York City.

Tax Housing or Land? Distributional Effects of Property Taxation in Germany

April 29, 2022
Rafael Barbosa and Simon Skipka assess the distributional effects of replacing a housing tax with a Land Value Taxation.

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