The general-equilibrium effects of the residential property tax: incidence and excess burden

Article Abstract:

The substitution of a residential property tax for a nondistortionary land tax in a small 'open' city tends to reduce city land area, populational density, and the city's total population. In a closed-region model, production and employment shift to other cities when residential property taxes are initiated. While landowners tend to benefit from the change in property taxation, residential property owners obviously do not. Excess burdens of such taxation policy changes are measured in hypothetical situations and shown to approximate 6.519 percent of tax revenues. In addition, total net returns on land values decline by 164.93 percent of total tax revenues when residential land taxes are used rather than nondistortionary land taxes.

Taxation, Property taxes, Land use, Property tax

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Optimal property taxation in the presence of interregional capital mobility

Article Abstract:

The relative impact of property taxes on property that produces interregionally traded goods and on property that does not is assessed, and the research indicates that property rates should be lower on the former (business property) as opposed to the latter (residential property). Interregional labor movements have no systematic influence on these findings. Key elements used to determine optimal property taxation rates are identified. An analysis of these elements indicates that property taxes should be lower when the land taxed is useful in the production of interregionally traded goods or services.

Regional economics, Real property Taxation

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Property values and pension underfunding in the local public sector

Article Abstract:

A study of pension underfunding and property values in the Chicago area indicated that these seemingly unrelated items are indirectly related, since previous city government political activities have an effect on current local land taxes. The study supports theories that underfunding activities are politically motivated as a form of 'hidden taxation' and have a zero direct effect on taxation. A simultaneous equation is developed to analyze the various impacts of underfunded municipal pension plans.

Employment, Pensions, Pension funds, Cities and towns, Chicago

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