Property Assessments and Information Asymmetry in Residential Real Estate

Fathali Firoozi (), Daniel R. Hollas (), Ronald C. Rutherford () and Thomas A. Thomson ()
Additional contact information
Fathali Firoozi: Department of Economics, University of Texas at San Antonio, 6900 North Loop 1604 West, San Antonio, Texas, 78249-0633
Daniel R. Hollas: Department of Economics, University of Texas at San Antonio, 6900 North Loop 1604 West, San Antonio, Texas, 78249-0633
Ronald C. Rutherford: Department of Economics, University of Texas at San Antonio, 6900 North Loop 1604 West, San Antonio, Texas, 78249-0633
Thomas A. Thomson: Department of Economics, University of Texas at San Antonio, 6900 North Loop 1604 West, San Antonio, Texas, 78249-0633

Journal of Real Estate Research, 2006, vol. 28, issue 3, 275-292

Abstract: This paper presents a game theoretic model of property tax assessment that allows a tax appraiser to either choose a high or a low assessment. The owner either accepts or challenges this assessment. A ‘‘fixed effects’’ regression model is used to evaluate the differences in the assessed values of a sample of houses from Bexar County, Texas during 2000 and 2001. Where the owner of the house is identified as a state licensed property tax consultant, the assessed value, after adjusting for size, age, and other economic characteristics, ranged from a statistically robust 2.5% to 6.2% lower than neighboring houses.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 2006
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

Downloads: (external link)
http://pages.jh.edu/jrer/papers/pdf/past/vol28n03/04.275_292.pdf Full text (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:jre:issued:v:28:n:3:2006:p:275-292

Ordering information: This journal article can be ordered from
Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
http://pages.jh.edu/jrer/about/get.htm

Access Statistics for this article

Journal of Real Estate Research is currently edited by Dr. Ko Wang

More articles in Journal of Real Estate Research from American Real Estate Society American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323.
Bibliographic data for series maintained by JRER Graduate Assistant/Webmaster ().