Assessment frequency and equity of the property tax: Latest evidence from Philadelphia

Author:

Hou Yilin1,Ding Lei2ORCID,Schwegman David J.3ORCID,Barca Alaina G.2

Affiliation:

1. Maxwell School Syracuse University Syracuse New York USA

2. Federal Reserve Bank of Philadelphia Philadelphia Pennsylvania USA

3. American University Washington, DC USA

Abstract

AbstractPhiladelphia's Actual Valuation Initiative adopted in 2013 creates a unique opportunity for us to test whether improved reassessments at short intervals to true market value improve property tax equity. Based on a difference‐in‐differences framework using parcel‐level data matched with transactions in Philadelphia and 15 comparable cities, this study finds positive evidence on equity outcomes from more regular reassessments. The quality of property assessment improves substantially after 2014, although the extent of improvement varies across communities. Cross‐city comparisons confirm Philadelphia's improvement in the quality and equity of property assessments after adopting the initiative. These results highlight the importance of regular reassessment in places where property values increase quickly, and they shed light on the disparate impacts of reassessment across property value and across neighborhood income, race, and gentrification status. The paper makes the case that the property tax, if designed well, can be an equitable tax instrument.

Publisher

Wiley

Subject

Public Administration,Sociology and Political Science,General Business, Management and Accounting

Reference35 articles.

1. Property tax delinquency and its spillover effects on nearby properties

2. Our taxes are too damn high: Institutional racism, property tax assessments, and the Fair Housing Act;Atuahene B.;Northwestern University Law Review,2018

3. Avenancio‐Leon C. &Howard T.(2019).The assessment gap: Racial inequalities in property taxation.SSRN.https://doi.org/10.2139/ssrn.3465010

Cited by 1 articles. 订阅此论文施引文献 订阅此论文施引文献,注册后可以免费订阅5篇论文的施引文献,订阅后可以查看论文全部施引文献

1. Property Valuation – Cycle Length and Assessment Outcome;The Journal of Real Estate Finance and Economics;2024-02-10

同舟云学术

1.学者识别学者识别

2.学术分析学术分析

3.人才评估人才评估

"同舟云学术"是以全球学者为主线,采集、加工和组织学术论文而形成的新型学术文献查询和分析系统,可以对全球学者进行文献检索和人才价值评估。用户可以通过关注某些学科领域的顶尖人物而持续追踪该领域的学科进展和研究前沿。经过近期的数据扩容,当前同舟云学术共收录了国内外主流学术期刊6万余种,收集的期刊论文及会议论文总量共计约1.5亿篇,并以每天添加12000余篇中外论文的速度递增。我们也可以为用户提供个性化、定制化的学者数据。欢迎来电咨询!咨询电话:010-8811{复制后删除}0370

www.globalauthorid.com

TOP

Copyright © 2019-2024 北京同舟云网络信息技术有限公司
京公网安备11010802033243号  京ICP备18003416号-3