Property Taxes and House Values: The Theory and Estimation of Intrajurisdictional Property Tax Capitalization

John Yinger · Howard S. Bloom · Axel Börsch-Supan

ຕ.ລ. 2013 · Elsevier

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Property Taxes and House Values: The Theory and Estimation of Intrajurisdictional Property Tax Capitalization explains the link between property taxes and house values and elaborates public policies that alter property taxes, such as assessment reform and state aid. This book introduces the concept of property tax capitalization and discusses the importance of tax capitalization for public policy. The topics include the simple algebra of property tax capitalization, inherent econometric difficulties, and household utility maximization problem. The anticipation of revaluation, revaluation in Brockton, and nonlinear two-stage least squares estimator are also described. This text likewise covers the estimates of the degree of property tax capitalization and horizontal equity of tax rate changes. This publication is recommended for academics, public officials, and homeowners.

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John Yinger is Trustee Professor of Public Administration and Economics and Director of the Education Finance and Accountability Program in the Center for Policy Research at the Maxwell School, Syracuse University. Howard S. Bloom is chief social scientist at MDRC Edwin S. Mills is professor emeritus of real estate and finance at the Kellogg School of Management, Northwestern University. He has been a consultant to government agencies, including the US Navy, US Public Health Service, and the US Office of Science and Technology, the United Nations, and the World Bank.