School spending and new construction
David Brasington ()
Regional Science and Urban Economics, 2017, vol. 63, issue C, 76-84
School districts that vote in favor of property tax levies may signal that they are education-oriented. Through Tiebout sorting and housing developer activity, new residents might move to such communities. New retail development may occur near these new residents, and office firms that rely on high-skilled residents might be drawn too. Using regression discontinuity we find school districts that renew property tax levies have a higher value of new construction than districts that do not renew these school expenditures. School tax levy renewal is responsible for 14% of new residential construction and 25% of new commercial construction.
Keywords: School finance; Signaling; Regression discontinuity; Real estate construction; Property tax voting (search for similar items in EconPapers)
JEL-codes: H27 H41 I25 R31 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:regeco:v:63:y:2017:i:c:p:76-84
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