scholarly journals International Real Estate Review

2008 ◽  
Vol 11 (1) ◽  
pp. 83-95
Author(s):  
Andrew Narwold ◽  
◽  
Jonathan Sandy ◽  
Charles Tu ◽  
◽  
...  
Keyword(s):  
Property Tax ◽  
Property Taxes ◽  
Hedonic Regression ◽  
Single Family ◽  
Housing Value ◽  
Local Municipalities ◽  
Percent Increase ◽  
Tax Savings ◽  
The Impact ◽  
The City

The State of California enacted the Mills Act in 1972. This act allows local municipalities the option of setting up a historic designation program. The main feature of the program is to allow the owners of historic buildings a reduction in their property taxes in return for an agreement to not alter the exterior façade of the designated building. This paper uses hedonic regression analysis to estimate the impact of the historic designation on the value of single-family residences in the City of San Diego. The results suggest that the designation creates a 16 percent increase in housing value. This is higher than the capitalization of the property tax savings would suggest, implying market value in the historic designation itself. The Mills Act represents an innovative approach to historic structure management and may provide guidance to governments elsewhere in the U.S. as well as internationally when designing historic preservation programs.

Urban decline and residential preference: The effect of vacant lots on housing premiums

2020 ◽  
pp. 239980832093390
Author(s):  
Youngre Noh ◽  
Galen Newman ◽  
Ryun Jung Lee
Keyword(s):  
Vacant Land ◽  
Urban Decline ◽  
Socioeconomic Conditions ◽  
Single Family ◽  
Housing Values ◽  
Vacant Lots ◽  
Residential Preference ◽  
Negative Impacts ◽  
The Impact ◽  
The City

Vacant land is a ubiquitous urban phenomenon. The existence of vacant land in a neighborhood can either lower or heighten nearby housing values, depending on its relative development potential. However, this condition has rarely been examined longitudinally, nor has it been examined thoroughly across different socioeconomic conditions. This research examines the impact of vacant lots on housing premiums using 2006–2015 single-family home sale transactions in the City of Minneapolis, Minnesota. The study area was divided into low-, middle-, and high-income levels. The results show that vacant lands have negative impacts on nearby single-family houses and these impacts differ by income level per neighborhood. The study sheds light on how planners and researchers should conceive vacant lands differently in various surroundings and conditions.

Fiscal Secession: An Analysis of Special Assessment Financing in California

2018 ◽  
Vol 56 (2) ◽  
pp. 480-512
Author(s):  
Mathew D. McCubbins ◽  
Ellen C. Seljan
Keyword(s):  
Ethnic Diversity ◽  
Local Governments ◽  
Property Tax ◽  
Property Taxes ◽  
Single Family ◽  
Progressive Taxation ◽  
Geographic Ranges ◽  
Alternative Method ◽  
Local Services ◽  
Special Assessment

Special assessments on property are a fiscal innovation employed by many local governments. Unable to raise property taxes due to limitations, localities have turned to these charges as an alternative method to fund local services. In this article, we seek to explain differential levels of special assessment financing through the analysis of property tax records of a sample of single-family homes in California. We theorize that special assessments, as opposed to other forms of taxation, will be used when residents hold anti-redistributive preferences. We show that annual assessment payments are correlated with the ethnic diversity and median family incomes of the census places within which they are located. We also show that assessments with narrow geographic ranges are levied extensively on expensive homes in poorer cities. We discuss the implications of special assessments for progressive taxation and the potential for fiscal secession within U.S. cities.

Lost and found tax dollars: The impact of local option sales taxes on property taxes and own source revenue

2015 ◽  
Vol 27 (3) ◽  
pp. 318-351 ◽  
Author(s):  
Whitney B. Afonso
Keyword(s):  
Property Tax ◽  
Property Taxes ◽  
Policy Variable ◽  
Level Data ◽  
Lost And Found ◽  
Local Option Sales Tax ◽  
Local Option ◽  
The Impact ◽  
The Relationship ◽  
Primary Contribution

The relationship between the local option sales tax (LOST) and property taxes and own source revenue is not well documented in the literature. This may be due in part to the aggregated nature of the data, which fails to capture different motivations for adoption of LOSTs. Using county-level data from 35 states, this study finds that LOSTs increase own source revenue and in some circumstances decrease property tax burdens. The primary contribution of this research is that it uses a policy variable, the LOST rate, to distinguish between the two types of counties that use their LOST revenues differently. This research represents the first step in bridging the gap between the LOST literature and the tax mix choice literature.

Show Me the Money

2016 ◽  
Vol 3 (2) ◽  
pp. 197-215
Author(s):  
Justin Simmons
Keyword(s):  
Sex Offenders ◽  
Sex Offender ◽  
Negative Impact ◽  
Property Tax ◽  
Property Values ◽  
Property Taxes ◽  
Tax Revenue ◽  
Property Value ◽  
Pros And Cons ◽  
The Impact

Many people have written scholarly articles highlighting the pros and cons of SORs. Some have taken the analysis a step further by pointing out the impact SORs have on the values of homes in the vicinity of a registered sex offender (“RSO”). While these studies have pointed out the impact the presence of an RSO can have on the property value for an individual homeowner, research regarding the impact RSOs have on property tax revenue for taxing districts is nonexistent. This Article highlights the correlation between the depressive effect the presence of RSOs has on property values, the impact this reduction in property value has on property tax revenue for taxing districts in Texas, and, as a corollary, the negative impact the decrease in revenue could have on the government’s ability to provide vital public services. The Article concludes by discussing different strategies states like Texas could use to allow taxing districts to recover some of this lost revenue. In particular, this Article suggests that states like Texas could (1) charge RSOs a premium on their property taxes to offset any losses their presence in the community causes; (2) pass laws that prevent RSOs from living in certain areas; (3) adjust the criteria used by taxing districts to appraise residential property; or (4) increase minimum sentences for sex offenders in an effort to reduce the number of registered sex offenders in the community.

When and How Much Did the Green Line LRT Increase Single-Family Housing Values in St. Paul, Minnesota?

2017 ◽  
Vol 38 (4) ◽  
pp. 427-436 ◽  
Author(s):  
Xinyu (Jason) Cao ◽  
Shengnan Lou
Keyword(s):  
Value Added ◽  
Green Line ◽  
Single Family ◽  
Housing Values ◽  
Value Capture ◽  
Benefit Cost Analysis ◽  
Housing Value ◽  
Before And After ◽  
The Right ◽  
The Impact

Studies quantifying value added of transit often cannot differentiate whether the premiums are transit effects or location effects. Limited studies have examined the timing of value added. Using before and after data, this study explores the impact of the Green Line LRT on housing sales prices. Compared to the studied period before its funding announcement, its announcement increased housing values by $9.2/sq ft and its commencement increased sales prices by $13.7/sq ft. Further analyses show that housing value appreciation actually occurred after the announcement but before the commencement. Thus, using the right timing of value added is critical for value capture programs and benefit–cost analysis.

scholarly journals The Impact of Property Tax Equalization on Rural Property in Oklahoma

1975 ◽  
Vol 7 (2) ◽  
pp. 77-83
Author(s):  
H. Evan Drummond
Keyword(s):  
Public Schools ◽  
Property Tax ◽  
Local Property ◽  
Horizontal Equity ◽  
Property Taxes ◽  
Land Values ◽  
Vertical Equity ◽  
Rural Land ◽  
Public Opinion Surveys ◽  
The Impact

Public opinion surveys indicate that the local property tax is the least popular of all taxes paid by Americans, yet in almost every state such a tax is levied for the support of local government and/or public schools. The major economic argument against the property tax is its inequities — both vertical and horizontal. Several studies have focused on the vertical equity of property taxes in Oklahoma, but the question of horizontal equity remains unexplored. The research reported in this paper deals with the nature of horizontal inequities in the taxation of rural land in Oklahoma and with the impact of state-wide equalization on rural land values.

Fiscal role of personal property tax

2020 ◽  
pp. 143-149
Author(s):  
Р.Ш. Абакарова
Keyword(s):  
Russian Federation ◽  
Local Governments ◽  
Property Tax ◽  
Property Taxes ◽  
Current Role ◽  
Personal Property ◽  
Factors Influencing ◽  
The Russian Federation ◽  
The Impact

Цель работы – выявить текущую роль имущественных налогов в формировании бюджетных доходов территорий Российской Федерации. Основные элементы рассматриваемых налогов изучены с применением метода наблюдения и сбора фактов. Рассматриваются факторы, влияющие на фискальную значимость изучаемого налога, анализируется динамика его элементов. Рассматриваются перспективы изменения исчисления и взимания налога, а также возможные варианты влияния элементов налога и других факторов на его фискальную значимость. Делается вывод о низкой фискальной роли налога и практическом отсутствии возможностей влияния на фискальную значимость органов местного самоуправления в рамках полномочий, определенных Налоговым кодексом РФ при установлении и введении в действие данного налога на территории муниципального образования. The purpose of the work is to identify the current role of property taxes in the formation of budget revenues territories of the Russian Federation. The main elements of the taxes under consideration were studied using the method of observation and collecting facts.The factors influencing the fiscal significance of the tax under study are considered, and the dynamics of its elements is analyzed. The prospects for changes in the calculation and collection of tax, as well as possible options for the impact of tax elements and other factors on its fiscal significance are considered. The conclusion is made about the low fiscal role of the tax and the practical lack of opportunities to influence the fiscal significance of local governments within the powers defined by the Tax code of the Russian Federation when establishing and implementing this tax on the territory of a municipality.

scholarly journals Property value map updating by mass appraisal method – a case in the city of Pato branco, state Paraná

2020 ◽  
Vol 43 ◽  
pp. e48912
Author(s):  
Luiz Antonio Miotti ◽  
Carlos Loch
Keyword(s):  
Public Administration ◽  
Property Tax ◽  
Fiscal Sustainability ◽  
Property Value ◽  
Single Family ◽  
The Public ◽  
Market Values ◽  
Map Updating ◽  
Speed Up ◽  
The City

This study addresses Property Value Map updating, specifically when it comes to the absence of methods that allows for efficiency, agility and transparency in estimating property value in Brazilian municipalities. In many cities, the Property Value Map is not being updated due to use of complicated methodologies that require several people and a great amount of time to be applied. For the cities, all properties have a significant importance, since they provide financial resources for city maintenance, considering that the value of the property serves as reference for the Municipal Property Tax and the Property Conveyance Tax to be collected. A failure to update the Property Value Map has been favoring the establishment of a condition of maladjustments in the sphere of public administration concerning property value, as well as tax collection, triggering situations intrinsic to this condition, such as the updating need for promotion of social equity and fair taxation. The present investigation also questions the use of single-family building values, resulting from Mass Appraisal, in substitution of market values, to update the Property Value Map. The modelling was designed through the Regression Method based on variables from appraisal studies in other countries. This procedure will speed up property value updating, bringing about fiscal sustainability and transparency to the Public Administration.

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