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Economic Impacts of a Property Tax Limitation: A Computable General Equilibrium Analysis of Oregon's Measure 5

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  • Edward C. Waters
  • David W. Holland
  • Bruce A. Weber

Abstract

A state-level computable general equilibrium (CGE) model was used to investigate economic adjustment to a property tax limitation in Oregon. Findings under two CGE model variants are compared with results using a fixed-price, input-output type model. The analysis suggests that: (1) total output and income increase under the limitation, with high-income households benefitting most and low-income households least; (2) even with income growth, total state and local government tax revenues and spending shrink significantly; (3) the limitation makes Oregon's tax system slightly less progressive at the top of the income distribution but slightly more progressive at the bottom.

Suggested Citation

  • Edward C. Waters & David W. Holland & Bruce A. Weber, 1997. "Economic Impacts of a Property Tax Limitation: A Computable General Equilibrium Analysis of Oregon's Measure 5," Land Economics, University of Wisconsin Press, vol. 73(1), pages 72-89.
    • Handle: RePEc:uwp:landec:v:73:y:1997:i:1:p:72-89
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    19. Roxana Julia-Wise & Stephen C. Cooke & RDavid Holland, 2002. "A Computable General Equilibrium Analysis of a Property Tax Limitation Initiative in Idaho," Land Economics, University of Wisconsin Press, vol. 78(2), pages 207-227.
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