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Property Tax Auction Sales

Author

Listed:
  • Larry DeBoer
  • James Conrad
  • Kevin T. McNamara

Abstract

We analyze sales of tax delinquent properties offered at a single property tax auction. Data on 1,073 parcels offered at the 1987 tax sale in Indianapolis are used. The two-stage Heckman selectivity model is used for the estimation. The results indicate that more valuable, developed, residential parcels located outside of the central city are more likely to sell. Higher minimum bids decrease the probability of sale. Parcels offered later in the auction are less likely to sell. The selling price is associated with a property's assessed value, with a negative premium for properties located in the city center.

Suggested Citation

  • Larry DeBoer & James Conrad & Kevin T. McNamara, 1992. "Property Tax Auction Sales," Land Economics, University of Wisconsin Press, vol. 68(1), pages 72-82.
  • Handle: RePEc:uwp:landec:v:68:y:1992:i:1:p:72-82
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    Cited by:

    1. Seow Eng Ong, 2006. "Price Discovery in Real Estate Auctions: The Story of Unsuccessful Attempts," Journal of Real Estate Research, American Real Estate Society, vol. 28(1), pages 39-60.
    2. Joshua J. Miller & Silda Nikaj, 2013. "The Responsiveness of Tax Lien Investors in English Auctions to Matching Rules: Evidence from Illinois," The Review of Regional Studies, Southern Regional Science Association, vol. 43(1), pages 81-96, Summer.
    3. Stevenson, Simon & Young, James & Gurdgiev, Constantin, 2010. "A comparison of the appraisal process for auction and private treaty residential sales," Journal of Housing Economics, Elsevier, vol. 19(2), pages 145-154, June.
    4. Mark G. Dotzour & Everard Moorhead & Daniel T. Winkler, 1998. "The Impact of Auctions on Residential Sales Prices in New Zealand," Journal of Real Estate Research, American Real Estate Society, vol. 16(1), pages 57-72.
    5. Simon Stevenson & James Young, 2015. "The Role of Undisclosed Reserves in English Open Outcry Auctions," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 43(2), pages 375-402, June.

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