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The Spatial Distribution of Housing-Related Ordinary Income Tax Benefits

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  • Joseph Gyourko
  • Todd Sinai

Abstract

We estimate how tax subsidies to owner-occupied housing are distributed spatially across the United States and find striking skewness. At the state level, the mean tax benefit per owned unit in 1990 ranged from $917 in South Dakota to $10,718 in Hawaii. The dispersion is slightly greater when benefit flows are measured at the metropolitan-area level. Even assuming the subsidies are funded in an income progressivity-neutral manner, a relatively few metro areas, primarily in California and the New York-Boston corridor, are shown to gain considerably while the vast majority of areas have relatively small gains or losses. Copyright 2003 by the American Real Estate and Urban Economics Association

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  • Joseph Gyourko & Todd Sinai, 2003. "The Spatial Distribution of Housing-Related Ordinary Income Tax Benefits," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 31(4), pages 527-575, December.
  • Handle: RePEc:bla:reesec:v:31:y:2003:i:4:p:527-575
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    Cited by:

    1. Wodon, Quentin, 2014. "Comparing Itemized Tax Deductions across States: A Simple Decomposition Applied to Mortgage Interest Deductions," MPRA Paper 56940, University Library of Munich, Germany.
    2. Coulson, N. Edward & Li, Herman, 2013. "Measuring the external benefits of homeownership," Journal of Urban Economics, Elsevier, vol. 77(C), pages 57-67.
    3. Marekwica, Marcel & Schaefer, Alexander & Sebastian, Steffen, 2013. "Life cycle asset allocation in the presence of housing and tax-deferred investing," Journal of Economic Dynamics and Control, Elsevier, vol. 37(6), pages 1110-1125.
    4. Todd Sinai & Joseph Gyourko, 2004. "The (Un)changing Geographical Distribution of Housing Tax Benefits: 1980 to 2000," NBER Working Papers 10322, National Bureau of Economic Research, Inc.
    5. Saku Aura & Thomas Davidoff, 2005. "Optimal Commodity Taxation when Land and Structures must be Taxed at the Same Rate," CESifo Working Paper Series 1522, CESifo Group Munich.
    6. David Albouy, 2009. "The Unequal Geographic Burden of Federal Taxation," Journal of Political Economy, University of Chicago Press, vol. 117(4), pages 635-667, August.
    7. John Carruthers & Gordon F. Mulligan, 2012. "The plane of living and the precrisis evolution of housing values in the USA," Journal of Economic Geography, Oxford University Press, vol. 12(4), pages 739-773, July.
    8. Charles Himmelberg & Christopher Mayer & Todd Sinai, 2005. "Assessing High House Prices: Bubbles, Fundamentals and Misperceptions," Journal of Economic Perspectives, American Economic Association, vol. 19(4), pages 67-92, Fall.
    9. Benjamin A. Austin & Edward L. Glaeser & Lawrence H. Summers, 2018. "Jobs for the Heartland: Place-Based Policies in 21st Century America," NBER Working Papers 24548, National Bureau of Economic Research, Inc.
    10. Patric H. Hendershott & Thomas G. Thibodeau & Halbert C. Smith, 2009. "Evolution of the American Real Estate and Urban Economics Association-super-1," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 37(4), pages 559-598.
    11. Olsen, Edgar O. & Zabel, Jeffrey E., 2015. "US Housing Policy," Handbook of Regional and Urban Economics, Elsevier.
    12. Stephen Cauley & Andrey Pavlov & Eduardo Schwartz, 2007. "Homeownership as a Constraint on Asset Allocation," The Journal of Real Estate Finance and Economics, Springer, vol. 34(3), pages 283-311, April.
    13. Evridiki Tsounta, 2011. "Home Sweet Home; Government's Role in Reaching the American Dream," IMF Working Papers 11/191, International Monetary Fund.
    14. Todd Sinai & Joseph Gyourko, 2004. "The (Un)Changing Geographical Distrituion of Housing Tax Benefits: 1980-2000," NBER Chapters,in: Tax Policy and the Economy, Volume 18, pages 175-208 National Bureau of Economic Research, Inc.

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