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Can property taxes reduce house price volatility? : evidence from U.S. regions /
We use a novel dataset on effective property tax rates in U.S. states and metropolitan statistical areas (MSAs) over the 2005-2014 period to analyze the relationship between property tax rates and house price volatility. We find that property tax rates have a negative impact on house price volatilit...
| Clasificación: | Libro Electrónico |
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| Autor principal: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Washington, D.C.] :
International Monetary Fund,
[2016]
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| Colección: | IMF working paper ;
WP/16/216. |
| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | We use a novel dataset on effective property tax rates in U.S. states and metropolitan statistical areas (MSAs) over the 2005-2014 period to analyze the relationship between property tax rates and house price volatility. We find that property tax rates have a negative impact on house price volatility. The impact is causal, with increases in property tax rates leading to a reduction in house price volatility. The results are robust to different measures of house price volatility, estimation methodologies, and additional controls for housing demand and supply. The outcomes of the analysis have important policy implications and suggest that property taxation could be used as an important tool to dampen house price volatility. |
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| Notas: | "November 2016." At head of title: International Monetary Fund, Fiscal Affairs Department. |
| Descripción Física: | 1 online resource (26 pages) : color illustrations |
| Bibliografía: | Includes bibliographical references (pages 12-13). |
| ISBN: | 9781475552799 1475552793 1475557108 9781475557107 |
| ISSN: | 1018-5941 ; |