Two-Rate Property Tax Effects on Land Development |
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Authors: | Anderson John E |
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Institution: | (1) Department of Economics, University of Nebraska, Lincoln, NE, 68588-0489 |
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Abstract: | Economists have long understood that the conventional property tax causes the housing stock to be smaller than it would be in the presence of a nondistortionary tax such as a land or site value tax. This article brings together the results from models of housing development timing and structural density with the results of a modern model of a graded property tax in an urban setting. The combination of results is used to investigate the effects of a community s movement from a property tax to a two-rate tax system where land is taxed at a higher rate than structures. The conditions under which increasing reliance on a land or site value tax will increase housing structural density and speed of development are identified and examined. Policy implications are drawn. |
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Keywords: | property tax two-rate tax housing development timing structural density |
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