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Applying Models for Vertical Inequity in the Property Tax to a Non-Market Value State

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Abstract

The objective is to contribute to the discussion on property tax inequity by employing the methodologies developed to test for vertical inequity in a tax system that currently does not rely on some form of market value in the assessment process. There is strong evidence that the property tax and the ‘‘True Tax Value’’ assessment procedure employed in Indiana contains progressive vertical inequities rather than regressive inequities as is typically perceived. This is unique, as previous findings tend to support the notion that the property tax is regressive. It provides potentially pertinent information in light of the ongoing discussion surrounding the restructuring of Indiana’s property tax assessment and property tax debates elsewhere.

Suggested Citation

  • Brent C. Smith, 2000. "Applying Models for Vertical Inequity in the Property Tax to a Non-Market Value State," Journal of Real Estate Research, American Real Estate Society, vol. 19(3), pages 321-344.
  • Handle: RePEc:jre:issued:v:19:n:3:2000:p:321-344
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    References listed on IDEAS

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    1. Mark A. Sunderman & John W. Birch & Roger E. Cannaday & Thomas W. Hamilton, 1990. "Testing for Vertical Inequity in Property Tax Systems," Journal of Real Estate Research, American Real Estate Society, vol. 5(3), pages 319-334.
    2. Lyons, Robert F. & Loveridge, Scott, 1993. "An Hedonic Estimation Of The Effect Of Federally Subsidized Housing On Nearby Residential Property Values," Staff Papers 13377, University of Minnesota, Department of Applied Economics.
    3. Earl D. Benson & Arthur L. Schwartz, Jr., 1997. "Vertical Equity in the Taxation of Single Family Homes," Journal of Real Estate Research, American Real Estate Society, vol. 14(3), pages 215-232.
    4. Kochin, Levis A & Parks, Richard W, 1982. "Vertical Equity in Real Estate Assessment: A Fair Appraisal," Economic Inquiry, Western Economic Association International, vol. 20(4), pages 511-532, October.
    5. Clapp, John M, 1990. "A New Test for Equitable Real Estate Tax Assessment," The Journal of Real Estate Finance and Economics, Springer, vol. 3(3), pages 233-249, September.
    6. Gatzlaff Dean H. & Ling David C., 1994. "Measuring Changes in Local House Prices: An Empirical Investigation of Alternative Methodologies," Journal of Urban Economics, Elsevier, vol. 35(2), pages 221-244, March.
    7. Edelstein, Robert H., 1979. "An Appraisal of Residential Property Tax Regressivity," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 14(04), pages 753-768, November.
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    Cited by:

    1. Gary C. Cornia & Barrett A. Slade, 2005. "Property Taxation of Multifamily Housing: An Empirical Analysis of Vertical and Horizontal Equity and Assessment Methods," Journal of Real Estate Research, American Real Estate Society, vol. 27(1), pages 17-46.

    More about this item

    JEL classification:

    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

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