Are Taxes Drivers Of House Prices
Download Are Taxes Drivers Of House Prices full books in PDF, epub, and Kindle. Read online free Are Taxes Drivers Of House Prices ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
| Author | : Ms.Nan Geng |
| Publisher | : International Monetary Fund |
| Total Pages | : 24 |
| Release | : 2018-07-18 |
| Genre | : Business & Economics |
| ISBN | : 1484369122 |
House prices in many advanced economies have risen substantially in recent decades. But experience indicates that housing prices can diverge from their long-run equilibrium or sustainable levels, potentially followed by adjustments that impact macroeconomic and financial stability. Therefore there is a need to monitor house prices and assess whether they are sustainable. This paper focuses on fundamentals expected to drive long run trends in house prices, including institutional and structural factors. The scale of potential valuation gaps is gauged on the basis of a cross-country panel analysis of house prices in 20 OECD countries.
| Author | : Yeo Joon Yoon |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2022 |
| Genre | : |
| ISBN | : 9788932200125 |
| Author | : Mr.Tigran Poghosyan |
| Publisher | : International Monetary Fund |
| Total Pages | : 26 |
| Release | : 2016-11-10 |
| Genre | : Business & Economics |
| ISBN | : 1475552793 |
We use a novel dataset on effective property tax rates in U.S. states and metropolitan statistical areas (MSAs) over the 2005–2014 period to analyze the relationship between property tax rates and house price volatility. We find that property tax rates have a negative impact on house price volatility. The impact is causal, with increases in property tax rates leading to a reduction in house price volatility. The results are robust to different measures of house price volatility, estimation methodologies, and additional controls for housing demand and supply. The outcomes of the analysis have important policy implications and suggest that property taxation could be used as an important tool to dampen house price volatility.
| Author | : Byron Lutz |
| Publisher | : DIANE Publishing |
| Total Pages | : 51 |
| Release | : 2011-05 |
| Genre | : Business & Economics |
| ISBN | : 1437940021 |
State and local government tax revenues dropped steeply following the most severe housing market contraction since the Great Depression. The authors identify five main channels through which the housing market affects state and local tax revenues: property tax revenues, transfer tax revenues, sales tax revenues, and personal income tax revenues. They find that property tax revenues do not tend to decrease following house price declines. The other four channels have had a relatively modest effect on state tax revenues. These channels jointly reduced tax revenues by $15 billion from 2005 to 2009, which is about 2% of total state own-source revenues in 2005. Charts and tables. This is a print on demand publication.
| Author | : Ms.Nan Geng |
| Publisher | : International Monetary Fund |
| Total Pages | : 24 |
| Release | : 2018-07-13 |
| Genre | : Business & Economics |
| ISBN | : 1484367626 |
House prices in many advanced economies have risen substantially in recent decades. But experience indicates that housing prices can diverge from their long-run equilibrium or sustainable levels, potentially followed by adjustments that impact macroeconomic and financial stability. Therefore there is a need to monitor house prices and assess whether they are sustainable. This paper focuses on fundamentals expected to drive long run trends in house prices, including institutional and structural factors. The scale of potential valuation gaps is gauged on the basis of a cross-country panel analysis of house prices in 20 OECD countries.
| Author | : Michael Ball |
| Publisher | : |
| Total Pages | : 60 |
| Release | : 1990 |
| Genre | : Home ownership |
| ISBN | : |
| Author | : Paul de Vries |
| Publisher | : IOS Press |
| Total Pages | : 227 |
| Release | : 2010 |
| Genre | : Political Science |
| ISBN | : 1607506653 |
This study discusses ways of measuring and explaining the development of house prices. The goal of the research underpinning this dissertation was to develop a methodological framework for studying these developments. This framework relates, first, to correcting for changes in the composition of dwellings and, second, to the fundamentals of the price development. Using the weighted repeat sales method and sale price appraisal ratio (SPAR) method, house price indexes were developed for the Netherlands. Both the Dutch land registry office and Statistics Netherlands publish the SPAR based house price index monthly. To explain and predict changes in prices, a house price model is presented. As suggested in literature on western housing markets, the Dutch house price developments can be explained by demand-oriented short-run term variables and a long-run term variable.
| Author | : Mr.Adrian Alter |
| Publisher | : International Monetary Fund |
| Total Pages | : 43 |
| Release | : 2020-02-28 |
| Genre | : Business & Economics |
| ISBN | : 1513530267 |
To identify and quantify downside risks to housing markets, we apply the house price-at-risk methodology to a sample of 37 cities across the United States and Canada using quarterly data from 1983 to 2018. This paper finds that downside risks to housing markets in the United States have seemingly fallen over the past decade, while having increased in Canada. Supply-side drivers, valuation, household debt, and financial conditions jointly play a key role in forecasting house price risks. In addition, capital flows are found to be significantly associated with future downside risks to major housing markets, but the net effect depends on the type of flows and varies across cities and forecast horizons. Using micro-level data, we identify households vulnerable to potential housing shocks and assess the riskiness of household debt.
| Author | : Dennis R. Capozza |
| Publisher | : |
| Total Pages | : |
| Release | : 2006 |
| Genre | : |
| ISBN | : |
This research assesses the impact of income and property taxes on house prices using a decadal panel data set for 63 metropolitan areas from 1970 to 1990. Our evidence is consistent with full capitalization of marginal income tax rates into house prices. Full capitalization suggests that income tax changes have limited effects on the allocation of real capital among structure types, implying that past changes in the tax advantages have had little impact on home ownership and housing investment, in contrast to the conclusions of much of the existing literature. When we apply the results to some proposed tax changes, we compute substantial house price declines and wide geographic variation.
| Author | : OECD |
| Publisher | : OECD Publishing |
| Total Pages | : 143 |
| Release | : 2022-07-21 |
| Genre | : |
| ISBN | : 9264862684 |
Housing Taxation in OECD Countries provides a comparative assessment of housing tax policies in OECD countries and identifies options for reform. The study starts with an overview of recent housing market trends and challenges and an analysis of the distribution of housing assets.
