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Two-Rate Property Tax Effects on Land Development

John Anderson ()

The Journal of Real Estate Finance and Economics, 1999, vol. 18, issue 2, 90 pages

Abstract: Economists have long understood that the conventional property tax causes the housing stock to be smaller than it would be in the presence of a nondistortionary tax such as a land or site value tax. This article brings together the results from models of housing development timing and structural density with the results of a modern model of a graded property tax in an urban setting. The combination of results is used to investigate the effects of a community's movement from a property tax to a two-rate tax system where land is taxed at a higher rate than structures. The conditions under which increasing reliance on a land or site value tax will increase housing structural density and speed of development are identified and examined. Policy implications are drawn. Copyright 1999 by Kluwer Academic Publishers

Date: 1999
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