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The Use of an Econometric Model for Estimating Aggregate Levels of Property Tax Assessment Within Local Jurisdictions

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  • Ihlanfeldt, Keith R.

Abstract

A majority of the states equalize funding of local jurisdictions by conducting sales ratio studies to estimate levels of property tax assessment. Because of sales chasing and the failure to adjust sales for time, sales ratios may inaccurately estimate true levels of assessment, resulting in funding inequities. Building upon recent advances in the real estate price index literature, an econometric model is proposed as an alternative to sales ratios as a method of estimating levels of assessment. Results from a sample of Florida counties show that levels of assessment are accurately estimated by the model, even for small counties.

Suggested Citation

  • Ihlanfeldt, Keith R., 2004. "The Use of an Econometric Model for Estimating Aggregate Levels of Property Tax Assessment Within Local Jurisdictions," National Tax Journal, National Tax Association;National Tax Journal, vol. 57(1), pages 7-23, March.
    • Handle: RePEc:ntj:journl:v:57:y:2004:i:1:p:7-23
    DOI: 10.17310/ntj.2004.1.01
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    Cited by:

    1. William M. Doerner & Keith Ihlanfeldt, 2012. "An Empirical Analysis of the Property Tax Appeals Process," Working Papers wp2012_01_01, Department of Economics, Florida State University, revised Jul 2014.
    2. Ihlanfeldt, Keith & Mayock, Tom, 2009. "Price discrimination in the housing market," Journal of Urban Economics, Elsevier, vol. 66(2), pages 125-140, September.
    3. Francis Wong, 2024. "Taxing Homeowners Who Won’t Borrow," CESifo Working Paper Series 11185, CESifo.
    4. Daniel P. McMillen, 2010. "Issues In Spatial Data Analysis," Journal of Regional Science, Wiley Blackwell, vol. 50(1), pages 119-141, February.
    5. Glennon, Dennis & Kiefer, Hua & Mayock, Tom, 2018. "Measurement error in residential property valuation: An application of forecast combination," Journal of Housing Economics, Elsevier, vol. 41(C), pages 1-29.
    6. Thorsnes, Paul & Bishop, Tim, 2013. "The value of basic building code insulation," Energy Economics, Elsevier, vol. 37(C), pages 68-81.

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