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Estimating the Determinants of Property Reassessment Duration: An Empirical Study of Pennsylvania Counties

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  • Stine, William F.
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    The main purpose of this study is to investigate the determinants of reassessment dura-tion across Pennsylvania county governments. It is the first attempt to estimate the effect of duration and various covariates on reassessment probability. A Weibull model was employed that assumed monotonically changing hazard and survival rates. The results showed reas-sessment was most likely positively duration dependent. Thus, the results predicted that counties had a low probability of reassessment in the early years of the reassessment cycle and a high probability in later years. Covariate estimates suggested that differences in local eco-nomic growth and local fiscal factors had the greatest impact on duration. Counties with high income and population growth had longer durations while counties with high business sector growth had shorter durations. Counties with low expenditures per capita and high growth of property tax burdens had shorter reassessment cycles. The results also predict that counties with tax rates above the statutory limit have longer reassessment durations. Elasticity projec-tions for several covariates showed a moderate response of the survival rate although it was less than unit elastic for all variables.

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    Article provided by Mid-Continent Regional Science Association in its journal Journal of Regional Analysis and Policy.

    Volume (Year): 40 (2010)
    Issue (Month): 2 ()

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    Handle: RePEc:ags:jrapmc:132450
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    1. Box-Steffensmeier, Janet M. & De Boef, Suzanna & Joyce, Kyle A., 2007. "Event Dependence and Heterogeneity in Duration Models: The Conditional Frailty Model," Political Analysis, Cambridge University Press, vol. 15(03), pages 237-256, June.
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    3. Anderson, John E. & Wassmer, Robert W., 1995. "The decision to 'bid for business': Municipal behavior in granting property tax abatements," Regional Science and Urban Economics, Elsevier, vol. 25(6), pages 739-757, December.
    4. Ladd, Helen F., 1991. "Property tax revaluation and tax levy growth revisited," Journal of Urban Economics, Elsevier, vol. 30(1), pages 83-99, July.
    5. Bloom, Howard S. & Ladd, Helen F., 1982. "Property tax revaluation and tax levy growth," Journal of Urban Economics, Elsevier, vol. 11(1), pages 73-84, January.
    6. Kiefer, Nicholas M, 1988. "Economic Duration Data and Hazard Functions," Journal of Economic Literature, American Economic Association, vol. 26(2), pages 646-679, June.
    7. Luna, LeAnn & Bruce, Donald J. & Hawkins, Richard R., 2007. "Maxing Out: An Analysis of Local Option Sales Tax Rate Increases," National Tax Journal, National Tax Association, vol. 60(1), pages 45-63, March.
    8. William Stine, 2005. "Do budget maximizing public officials increase the probability of property reassessment?," Applied Economics, Taylor & Francis Journals, vol. 37(20), pages 2395-2405.
    9. Latzko, David A., 2008. "Home Rule and the Size of County Government in Pennsylvania," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 38(1).
    10. Rafael Lalive, 2007. "Unemployment Benefits, Unemployment Duration, and Post-Unemployment Jobs: A Regression Discontinuity Approach," American Economic Review, American Economic Association, vol. 97(2), pages 108-112, May.
    11. Strumpf, Koleman S., 1999. "Infrequent Assessments Distort Property Taxes: Theory and Evidence," Journal of Urban Economics, Elsevier, vol. 46(2), pages 169-199, September.
    12. Gibson, Diane, 2003. "Neighborhood characteristics and the targeting of tax increment financing in Chicago," Journal of Urban Economics, Elsevier, vol. 54(2), pages 309-327, September.
    13. Walden, Michael L. & Denaux, Zulal, 2002. "Lags in Real Property Revaluations and Estimates of Shortfalls in Property Tax Collections in North Carolina," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 34(01), pages 205-213, April.
    14. 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.).
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