The effect of shifting the property tax base from improvement value to land value: an empirical estimate
1977
Pollock, R.L. | Shoup, D.C.
Extract: The purpose of the present study is to estimate the effect on capital intensity of urban land development of a reduction in the tax rate on improvements accompanied by an increase in the tax rate on land value, with total property tax revenues held constant. first, we briefly develop a model of investor decision making, which predicts the impact of land and improvement taxes on capital intensity of urban land development. then we describe the sample of buildings which serves as the data base to estimate the parameters of the model. finally, we predict the impact that a reduction in the property tax rate on improvements would have on the optimal capital investment in improvements for the sample of properties.
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