House Prices and Immovable Property Taxes: Evidence from OECD Countries

Tommaso Oliviero (), Agnese Sacchi (), Annalisa Scognamiglio () and Alberto Zazzaro ()
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Agnese Sacchi: Universitas Mercatorum (Italy) and GEN (Spain).
Annalisa Scognamiglio: CSEF, Università di Napoli, http://www.csef.it/Scognamiglio

CSEF Working Papers from Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy

Abstract: In this paper we study the impact of changes in immovable property taxation on the growth rate of house prices by analyzing a panel of 34 OECD countries over the period 1970-2014. We show that there is a negative relationship, robust to the inclusion of other cyclical determinants of house prices, country and year fixed effects. Furthermore, we do not find evidence of a stabilizing role of immovable property taxes on the variability of house prices: boom-bust cycles in housing markets are, in fact, not correlated with the levels of such a tax.

Keywords: House prices; Immovable property tax. (search for similar items in EconPapers)
JEL-codes: E62 H20 R21 R31 (search for similar items in EconPapers)
Date: 2016-06-10, Revised 2016-10-06
New Economics Papers: this item is included in nep-acc, nep-mac, nep-pbe and nep-ure
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Published in Metroeconomica, 2019, vol.70, pp. 776 - 7

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http://www.csef.it/WP/wp444.pdf (application/pdf)

Related works:
Journal Article: House prices and immovable property tax: Evidence from OECD countries (2019)
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Persistent link: https://EconPapers.repec.org/RePEc:sef:csefwp:444

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