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Taxation of Foreign Real Property Investments in the U.S.: A State Perspective


  • Marcia Sakai
  • James Mak

    () (Department of Economics, University of Hawaii at Manoa)


Foreign ownership of U.S. real estate has grown at a rapid pace during the 1980s. This paper demonstrates that avoidance and evasion of the capital gains tax are particularly difficult problems facing state governments in the case of foreign resales of domestic real estate interests. The paper provides comparative information and analyses on how states tax gains from nonresident sales of interests in real property. The paper concludes with an argument for an augmented role for the property tax in an optimum system of state and local taxation in an environment of growing foreign economic activity in the U.s.

Suggested Citation

  • Marcia Sakai & James Mak, 1990. "Taxation of Foreign Real Property Investments in the U.S.: A State Perspective," Working Papers 199030, University of Hawaii at Manoa, Department of Economics.
  • Handle: RePEc:hai:wpaper:199030

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    References listed on IDEAS

    1. Clotfelter, Charles T., 1978. "Private security and the public safety," Journal of Urban Economics, Elsevier, vol. 5(3), pages 388-402, July.
    2. Severin Borenstein, 1989. "Hubs and High Fares: Dominance and Market Power in the U.S. Airline Industry," RAND Journal of Economics, The RAND Corporation, vol. 20(3), pages 344-365, Autumn.
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