THE TAXPAYER RELIEF ACT OF 1997 AND HOMEOWNERSHIP: IS SMALLER NOW BETTER?

Amelia M. Biehl and William Hoyt ()

Economic Inquiry, 2014, vol. 52, issue 2, 646-658

Abstract: type="main" xml:lang="en">

Prior to the Taxpayer Relief Act of 1997 (TRA97), the capital gain from the sale of a home was taxed differently for those over and under the age of 55. TRA97 eliminated this differential treatment. Using a difference-in-difference approach, we find that home sellers slightly under the age of 55 were 6.2% more likely to move for a less expensive house to maintain, 6.6% less likely to move for a larger place, and 5.2% more likely to reside in a condominium after TRA97's enactment, relative to those slightly over 55. (JEL H24, R21)

Date: 2014
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Working Paper: The Taxpayer Relief Act of 1997 and Homeownership: Is Smaller Now Better? (2009)
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