Full Disclosure: Controlling Property Tax Increases During Periods of Increasing Housing Values
AbstractThis paper examines the outcome of a non–binding full disclosure process to control increases in the property tax. The data used in the study cover a 20–plus–year period in five MSAs in Utah. During the period of our analysis, metro areas in Utah experienced rapid increases in the market value of residential housing. The results of our analysis suggest that local assessors in Utah captured this increased value in their appraisal and reappraisal processes. However, our results also demonstrate that the effective property tax rate did not keep pace with increases in assessed property values, implying that a non–binding full disclosure law did limit growth in the property tax. Furthermore, it limited the property tax while avoiding some of the unintended consequences imposed by binding property tax limitations.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by National Tax Association in its journal National Tax Journal.
Volume (Year): 59 (2006)
Issue (Month): 3 (September)
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Makowsky, Michael & Sanders, Shane, 2013. "Political costs and fiscal benefits: The political economy of residential property value assessment under Proposition 212," Economics Letters, Elsevier, vol. 120(3), pages 359-363.
- Byron F. Lutz, 2008. "The connection between house price appreciation and property tax revenues," Finance and Economics Discussion Series 2008-48, Board of Governors of the Federal Reserve System (U.S.).
- James Alm & Robert D. Buschman & David L. Sjoquist, 2012.
"Rethinking Local Government Reliance on the Property Tax,"
1215, Tulane University, Department of Economics.
- Alm, James & Buschman, Robert D. & Sjoquist, David L., 2011. "Rethinking local government reliance on the property tax," Regional Science and Urban Economics, Elsevier, vol. 41(4), pages 320-331, July.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Charmaine Wright).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.