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Political costs and fiscal benefits: The political economy of residential property value assessment under Proposition 212

  • Makowsky, Michael
  • Sanders, Shane

We use a 15-year panel of property value assessment data from 351 Massachusetts municipalities. Appraised values grow more slowly in municipalities with elected assessors. When municipalities pass, via referenda, large increases in the cap on tax revenues, value assessments grow faster under appointed assessors and slower under elected assessors. Appraisals grow slower when alternative revenue sources are available.

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Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 120 (2013)
Issue (Month): 3 ()
Pages: 359-363

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Handle: RePEc:eee:ecolet:v:120:y:2013:i:3:p:359-363
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  1. Bradbury, Katharine L. & Mayer, Christopher J. & Case, Karl E., 2001. "Property tax limits, local fiscal behavior, and property values: evidence from Massachusetts under Proposition," Journal of Public Economics, Elsevier, vol. 80(2), pages 287-311, May.
  2. Eric Helland & Alexander Tabarrok, 2002. "The Effect of Electoral Institutions on Tort Awards," American Law and Economics Review, Oxford University Press, vol. 4(2), pages 341-370.
  3. Cutler, David M. & Elmendorf, Douglas W. & Zeckhauser, Richard, 1999. "Restraining the Leviathan: property tax limitation in Massachusetts," Journal of Public Economics, Elsevier, vol. 71(3), pages 313-334, March.
  4. Cornia, Gary C. & Walters, Lawrence C., 2006. "Full Disclosure: Controlling Property Tax Increases During Periods of Increasing Housing Values," National Tax Journal, National Tax Association, vol. 59(3), pages 735-49, September.
  5. Thomas A. Garrett & Gary A. Wagner, 2007. "Red ink in the rearview mirror: local fiscal conditions and the issuance of traffic tickets," Working Papers 2006-048, Federal Reserve Bank of St. Louis.
  6. Michael D. Makowsky & Thomas Stratmann, 2009. "Political Economy at Any Speed: What Determines Traffic Citations?," American Economic Review, American Economic Association, vol. 99(1), pages 509-27, March.
  7. Justin M. Ross, 2011. "Assessor Incentives and Property Assessment," Southern Economic Journal, Southern Economic Association, vol. 77(3), pages 776-794, January.
  8. Bowman, John H. & Mikesell, John L., 1989. "Elected Versus Appointed Assessors and the Achievement of Assessment Uniformity," National Tax Journal, National Tax Association, vol. 42(2), pages 181-89, June.
  9. Justin M. Ross, 2012. "Interjurisdictional Determinants of Property Assessment Regressivity," Land Economics, University of Wisconsin Press, vol. 88(1), pages 28-42.
  10. Lutz, Byron F., 2008. "The Connection Between House Price Appreciation and Property Tax Revenues," National Tax Journal, National Tax Association, vol. 61(3), pages 555-72, September.
  11. Jan K. Brueckner & Luz A. Saavedra, 2000. "Do Local Governments Engage in Strategic Property-Tax Competition?," Econometric Society World Congress 2000 Contributed Papers 0357, Econometric Society.
  12. 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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