House Prices and Immovable Property Taxes: Evidence from OECD Countries

Tommaso Oliviero (), Agnese Sacchi, Annalisa Scognamiglio and Alberto Zazzaro ()

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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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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