Jurisdictional fragmentation equalizes housing consumption |
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Authors: | Sam Bucovetsky |
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Institution: | University of Western Ontario, London, Ont., N6A 3K7, Canada |
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Abstract: | If a homogeneous tract of land is divided into separate jurisdictions, each containing a different income class, then in equilibrium all residents will consume identical housing, regardless of income. This result depends on the property tax being used to finance the local public sector, and per capita costs of the public good being independent of population. Profit maximization by land developers is also required. |
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