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Taxes and the fundamental value of houses

Madsen, Jakob

Description

This paper constructs a general equilibrium model of housing prices which can be used to analyze the effects of various taxes on house prices and housing stock. It is shown that taxes have effects on the housing market that are quite different from the effects generated from the conventional user-cost-based models. Empirical estimates for the US show that taxes are highly influential for house prices in the short run as well as in the long run.

CollectionsANU Research Publications
Date published: 2009
Type: Journal article
URI: http://hdl.handle.net/1885/19208
Source: Regional Science and Urban Economics
DOI: 10.1016/j.regsciurbeco.2009.01.004

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