Property-Tax-Induced Mobility and Redistribution: Evidence from Mass Reappraisals
Abstract/Contents
- Abstract
- I investigate the effect of property tax changes on individual homeowner mobility and voted tax rates using a panel of individual assessment and sales records in Ohio. I use regulatory stabilization rules that cause changes in individual taxes with no mechanical change in quantity of public goods to examine how changes in a homeowner's tax bill influence sales, foreclosure events, and home equity loan origination. The changes in taxes I observe are driven by changes in relative assessment growth within school districts and allow me to identify the effects of changes in taxes separately from the effects of changing housing wealth. Using a leave-one-out by county random forest regression on assessed values to instrument for tax changes, I find that a $0.10 increase in the price per dollar of services leads to a 5% increase in the likelihood of sale with no change in the likelihood of foreclosure. I also find suggestive evidence of increased voted tax rates at the school district level when the ratio of median to mean taxable value decreases.
Description
| Type of resource | text |
|---|---|
| Date created | September 9, 2021 |
Creators/Contributors
| Author | Fraenkel, Rebecca |
|---|---|
| Organizer of meeting | Diamond, Rebecca |
| Organizer of meeting | van Dijk, Winnie |
| Organizer of meeting | Schneider, Martin |
| Organizer of meeting | Tsivanidis, Nick |
Subjects
| Subject | economics |
|---|---|
| Genre | Text |
| Genre | Working paper |
| Genre | Grey literature |
Bibliographic information
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- License
- This work is licensed under a Creative Commons Attribution 4.0 International license (CC BY).
Preferred citation
- Preferred citation
- Fraenkel, R. (2022). Property-Tax-Induced Mobility and Redistribution: Evidence from Mass Reappraisals. Stanford Digital Repository. Available at https://purl.stanford.edu/yz532ps2501
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SITE Conference 2021
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