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Property Taxation of Multifamily Housing: An Empirical Analysis of Vertical and Horizontal Equity and Assessment Methods

Author

Listed:
  • Gary C. Cornia

    () (Visiting Senior Fellow, Lincoln Institute of Land Policy, 113 Brattle Street, Cambridge, MA 02138)

  • Barrett A. Slade

    () (Marriott School, Brigham Young University, 685 TNRB, Provo, Utah 84602)

Abstract

This study used the hedonic price technique to focus on a housing characteristic that has been studied infrequently: whether a home is site-built or manufactured. Two hedonic price regression models were used to determine the predictive power of construction type on home price. The ?rst, which controlled for factors found to relate to home prices in previous research, showed a signi?cant difference between the prices of the two types of homes. The second, which also included other variables through a stepwise regression, found that the type of construction had more predictive power than any other explanatory variable in the model.

Suggested Citation

  • 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.
  • Handle: RePEc:jre:issued:v:27:n:1:2005:p:17-46
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    References listed on IDEAS

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    1. 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.
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    6. Howard Chernick & Andrew Reschovsky, 1990. "The Taxation of the Poor," Journal of Human Resources, University of Wisconsin Press, vol. 25(4), pages 712-735.
    7. 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.
    8. 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.
    9. 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.
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    Cited by:

    1. Shi, Song & Young, Martin & Hargreaves, Bob, 2009. "Issues in measuring a monthly house price index in New Zealand," Journal of Housing Economics, Elsevier, vol. 18(4), pages 336-350, December.

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    JEL classification:

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

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