Temporary Property Tax Relief and Residential Home Sales

IF 1.8 3区经济学 Q2 BUSINESS, FINANCE National Tax Journal Pub Date : 2023-08-09 DOI:10.1086/725504

T. Spreen, Colton Keddington

引用次数: 0

Abstract

This paper tests whether temporary property tax relief influences sales of eligible properties. We examine the short-run impact of a new five-year property tax credit made available to long-tenured senior homeowners in Maryland using property-level assessment and transaction data. We find that the temporary credit resulted in a statistically insignificant and economically modest decline in sales of eligible properties. We also find no change in non-arm’s-length sales of eligible properties, which include foreclosures. The results suggest temporary property tax relief does not induce short-term lock-in effects among eligible homeowners.

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临时物业税减免和住宅销售

本文检验了临时房产税减免是否会影响符合条件的房产的销售。我们使用房产级别评估和交易数据，对马里兰州长期资深房主提供的新的五年房产税抵免的短期影响进行了研究。我们发现，临时信贷导致符合条件的物业的销售在统计上微不足道，经济上适度下降。我们还发现，包括止赎权在内的符合条件房产的非公平销售没有变化。结果表明，暂时的房产税减免不会在符合条件的房主中引发短期锁定效应。

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来源期刊

National Tax Journal Multiple-

CiteScore

3.40

自引率

11.80%

发文量

期刊介绍： The goal of the National Tax Journal (NTJ) is to encourage and disseminate high quality original research on governmental tax and expenditure policies. Articles published in the regular March, June and September issues of the journal, as well as articles accepted for publication in special issues of the journal, are subject to professional peer review and include economic, theoretical, and empirical analyses of tax and expenditure issues with an emphasis on policy implications. The NTJ has been published quarterly since 1948 under the auspices of the National Tax Association (NTA). Most issues include an NTJ Forum, which consists of invited papers by leading scholars that examine in depth a single current tax or expenditure policy issue. The December issue is devoted to publishing papers presented at the NTA’s annual Spring Symposium; the articles in the December issue generally are not subject to peer review.