Real-Estate Investors, House Prices and Rents: Evidence from Capital-Gains Tax Changes
Yael Elster, Itai Ater, and Eran B. Hoffman
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.
December 2, 2022
The Role of Property Tax in California's Housing Crisis
Paul J. Fisher
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.
November 18, 2022
How Do Households Value the Future? Evidence from Property Taxes
Hans R.A. Koster and Edward W. Pinchbeck
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.
November 4, 2022
Appraisal Overvaluation: Evidence of Price Adjustment Bias in Sales Comparisons
Yanling G. Mayer and Frank E. Nothaft
This report, by Yanling G. Mayer, delves into the underlying appraisal development
to identify causes of appraisal bias.
October 21, 2022
The Effects of Fiscal Decentralization on Publicly Provided Services and Labor Market
Nicola Bianchi, Michela Giorcelli, and Enrica Maria Martino
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.
October 7, 2022
Federal Tax Deductions and the Demand for Local Public Goods
Brent W. Ambrose and Maxence Valentin
This report, by Brent W. Ambrose, provides new insights into the equity of the current tax system.
September 23, 2022
To Own or to Rent? The Effects of Transaction Taxes on Housing Markets
Lu Han, L. Rachel Ngai, and Kevin D. Sheedy
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
September 9, 2022
Assessment Persistence
Daniel McMillen, Ruchi Singh
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.
August 30, 2022
An Evaluation of the Residential Property Tax Equity in New York City
Christopher Berry
This report, by Christopher Berry, evaluates property tax regressivity and its causes in New York City.
May 6, 2022
Tax Housing or Land? Distributional Effects of Property Taxation in Germany
Rafael Barbosa, Simon Skipka
Rafael Barbosa and Simon Skipka assess the distributional effects of replacing a housing tax with a Land Value Taxation.
April 29, 2022