Housing as an asset and the effects of property taxation on the residential development process |
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| Authors: | Yoshitsugu Kanemoto |
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| Institution: | 1. Institute of Socio-Economic Planning, University of Tsukuba, Sakura, Ibaraki, 305 Japan;2. Department of Economics, Queen''s University, Kingston, Ontario, K7L 3N6 Canada |
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| Abstract: | A model of residential development is constructed recognizing the asset side of land and housing. The equilibrium process is characterized under the perfect foresight assumption, and the effects of a capital gains tax (both unanticipated and anticipated) and a tax on property values are examined. |
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