scholarly journals International Real Estate Review

2001 ◽  
Vol 4 (1) ◽  
pp. 95-117
Author(s):  
Mark Hoven Stohs ◽  
◽  
Paul Childs ◽  
Simon Stevenson ◽  
◽  
...  
Keyword(s):  
Real Estate ◽  
Home Ownership ◽  
Unintended Consequences ◽  
Single Family ◽  
Proposition 13 ◽  
Distribution Of Wealth ◽  
Home Value ◽  
Home Sales ◽  
Real Estate Tax ◽  
Former Ussr

Governmental tax policies have direct consequences for public spending and the distribution of wealth among a country’s population. But unintended consequences may also occur as a result of the design of those policies. We illustrate the potential impact of such unintended consequences by analyzing differences in home ownership mobility in California, Illinois, and Massachusetts that appear to result from the distinct differences in the design of real estate tax polices across these states. California’s Proposition 13, which became law in 1978, limits the increase in real estate taxes to a maximum of 2% in any given year regardless of home value appreciation. With home value appreciation, Proposition 13 creates sizeable disincentives to move. The evidence from an analysis of single family home sales records in California, Illinois, and Massachusetts indicates that California’s homeowners are significantly less mobile than their counterparts in Illinois and Massachusetts. The lower mobility was clearly not intended by the passage of Proposition 13, though its impact on society is potentially very significant. We recommend that countries in the process of developing tax systems for residential real estate ownership (such as China, the countries of the former USSR, and many countries in Africa) take account of such originally unintended consequences.

Comparative analysis of the real estate taxation basics in the Russian Federation and foreign countries

2018 ◽  
Vol 941 (11) ◽  
pp. 61-64
Author(s):  
A.M. Lelyuhina ◽  
М.V. Litvinenko ◽  
O.V. Miklashevskaya
Keyword(s):  
Real Estate ◽  
Russian Federation ◽  
Tax System ◽  
The Real Estate ◽  
Foreign Countries ◽  
Real Estate Valuation ◽  
Real Estate Tax ◽  
The Russian Federation ◽  
Rational Construction ◽  
The Uk

The current issues of reforming the current tax system in the Russian Federation in the context of the transition to determining the amount of real estate taxes based on the cadastral value of real estate objects are discussed. The decision on adopting elements of a tax system in practice should be scientifically and methodologically based. The rational construction of the tax system of Russia contributes to the study of foreign tax systems’ models. In the article, the systems for calculating real estate tax established in the foreign countries under consideration are highlighted. Everything is based on analyzing the practice of real estate valuation in the UK, France, Belgium, Latvia, Finland, USA and Chile. A comparison is made of the grounds for calculating the property tax, their distinctive features. The main approaches to determining the cadastral value taking place in the cadastral systems of foreign countries are summarized. The conducted studies provide grounds for identifying trends in real estate valuation, which are being introduced into modern Russian cadastral valuation practice.

The Effect of Industrial Growth on the Local Real Estate Tax: An Expanded Model

1974 ◽  
Vol 50 (4) ◽  
pp. 397
Author(s):  
John E. Gerweck ◽  
Donald J. Epp
Keyword(s):  
Real Estate ◽  
Industrial Growth ◽  
Estate Tax ◽  
Real Estate Tax

scholarly journals Howard Jarvis, Populist Entrepreneur: Reevaluating the Causes of Proposition 13

1999 ◽  
Vol 23 (2) ◽  
pp. 173-210 ◽  
Author(s):  
Daniel A. Smith
Keyword(s):  
Property Tax ◽  
Unintended Consequences ◽  
Letters To The Editor ◽  
Proposition 13 ◽  
Primary Election ◽  
Local Newspapers ◽  
Tax Limitation ◽  
Radio Programs ◽  
Ballot Measure ◽  
Opinion Polls

During the months immediately preceding California’s June 1978 primary election, Proposition 13, the fractious property tax ballot measure, received a dizzying amount of media attention. Newspaper columnists from California and around the country swapped partisan barbs, debating ad infinitum the initiative’s merits and faults. In public forums, political scientists and economists calculated and recalculated the measure’s possible effects and unintended consequences. Heated letters to the editor and sharp-edged political cartoons saturated the editorial pages of local newspapers. Opinion polls registered the public’s sentiment toward the measure on a weekly basis. Shrill advertisements touting either the necessity or the destructiveness of the proposition interrupted regularly scheduled television and radio programs. Indefatigable Howard Jarvis, the monomaniacal, septuagenarian leader of the tax limitation movement, was seemingly everywhere. By election day, the proponents and opponents of Prop 13 had spent over $2 million each on the measure (CFPPC 1988).

scholarly journals The Impact of Single-Family Rental REITs on Regional Housing Markets: A Case Study of Nashville, TN

Societies ◽  
2018 ◽  
Vol 8 (4) ◽  
pp. 93 ◽  
Author(s):  
Ken Chilton ◽  
Robert Silverman ◽  
Rabia Chaudhrey ◽  
Chihaungji Wang
Keyword(s):  
Real Estate ◽  
Census Data ◽  
Housing Markets ◽  
Future Research ◽  
Individual Investors ◽  
Single Family ◽  
Real Estate Investment ◽  
Wealth Concentration ◽  
The Impact ◽  
The U.S

The U.S. Congress authorized the creation of real estate investment trusts (REITs) in 1960 so companies could develop publically traded real estate investment portfolios. REITs focus on commercial property, retail property, and rental property. During the last decade, REITs became more active in regional housing markets across the U.S. Single-family rental (SFR) REITs have grown tremendously, buying up residential properties across the country. In some regional housing markets, SFR REITs own noticeable shares of single-family homes. In those settings, SFR REITs take large numbers of housing units off of real estate markets where homeownership transactions occur and manage these properties as part of commercial rental inventories. This has resulted in a new category of multiple property owners, composed of institutional investors as opposed to individual investors, which further exacerbates property wealth concentration and polarization. This study examines the socio–spatial distribution of properties in SFR REIT portfolios to determine if SFR REIT properties tend to cluster in distinct areas. This study will focus on the regional housing market in Nashville, TN. Nashville has one of the most active SFR REIT sectors in the country. County tax assessor records were used to identify SFR REIT properties. These data were joined with U.S. Census data to create a profile of communities. The data were analyzed using SPSS statistical software and GIS software. Our analysis suggests that neighborhoods with clusters of SFR REITs fit the SFR REIT business model. Clusters occur in communities with newer homes, residents with higher levels of educational attainment, and middle to upper-middle incomes. The paper concludes with several recommendations for future research on SFR REITs.

scholarly journals Teoretyczne i metodyczne aspekty wyznaczania indeksów cen na rynku mieszkaniowym

2018 ◽  
Author(s):  
Radosław Trojanek
Keyword(s):  
Real Estate ◽  
Housing Prices ◽  
Real Estate Market ◽  
Secondary Market ◽  
Property Right ◽  
Sources Of Information ◽  
Single Family ◽  
Starting Point ◽  
Price Indexes

In the book, an attempt was made to catalogue knowledge concerning the importance of research into the dynamics of housing prices for social and economic development. The analysis of the experience of countries with well-developed real estate markets in the aspect of building price indexes was carried out. Based on original databases of asking and transaction prices, price indexes were built, which were then subjected to numerous resistance tests. The aims of these research tasks were as follows: 1) to examine the quality of offers for sale as a source of information about changes in the real estate market, 2) to find out whether the repeat sales method can be used for building price indexes and to critically assess this method in terms of the stability of the obtained results, 3) to analyze hedonic methods and indicate the preferred one in terms of the ratio of the quality of results to how time-consuming and cost-intensive it is to build such indexes, 4) to establish the importance of methods and sources of information for building price indexes in different time horizons, 5) to identify how important it is for the fluctuation of price indexes if the cooperative property right to a flat is not taken into account. In order to perform the research tasks and accomplish the goals scopes of the work were defined. The subject followed the aim of the study and refers to prices in the secondary housing market, encompassing both the property right and cooperative property right to a flat or house. The broad scope concerns the discussion in the general part, being narrowed down to the secondary market of flats located in multi-family and single-family buildings. The time scope covers the years 2000-2015, which is connected to the range of empirical studies carried out. They focused both on actual transactions and on offers of flats for sale. On this basis, we built databases which served as the starting point for further analyses. The study involved transactions and offers in the area of Poznan.

scholarly journals The Application of Mathematics to Calculation of Zakat in Home Sales

2020 ◽  
Vol 6 (2) ◽  
pp. 58-61
Author(s):  
Rizki Syahputra
Keyword(s):  
Real Estate ◽  
Social Conditions ◽  
Home Sales ◽  
Muslim Scholars

Zakat is the name or designation of something that a person gives to those who are entitled to it, meaning zakat is one of the pillars of Islam that deals directly with property and social conditions. One of the forms of wealth to which the zakat should be issued is the wealth of commerce. Prof. Dr. Wahbah Zuhaili in his book, “Al-Fiqh al-Islam waadillatuhu” describes the house when it comes to income / profit earned by renting / selling it is obligatory. The scholars explain that there is a zakat on real estate when selling a home. This is what was discussed at the second Muslim scholars in Cairo, that there is a zakat obligation on the profit or income of a home sale when it reaches nishab and is fulfilled when selling the house. Although he wants to buy a house again, he has to pay his charity first so that his wealth can be clean and be a blessing in life and in the hereafter.Keywords: Zakat, Mathematics,Home

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