We found a match
Your institution may have access to this item. Find your institution then sign in to continue.
- Title
The Incidence of Urban Real Estate Taxes Under Conditions of Static and Dynamic Equilibrium.
- Authors
Richman, Raymond L.
- Abstract
The most commonly held view of the long-run incidence of an ad valorem tax on real estate is that the burden of that portion of the tax based on the value of the improvements is shifted forward to the occupier or, if it is business property, to his customers. A decline in investment in real estate improvements may have effects on the rate of interest, reducing the burden on the occupier and benefiting consumers in other sectors. It may affect incomes of factors of production in the construction and related fields and incomes of factors in other sectors. In nearly all cities the uses to which land may be put is severely restricted by zoning laws or ordinances. Certain areas are restricted to residential, commercial or industrial uses. Within each general category there are a number of more restrictive classifications. Single-residence, two-unit, and multi-unit dwellings restrictions are common. The tax on improvements is borne by the landowner except for minor effects of the tax on the intensive development of a parcel. Under dynamic economic conditions, marginal lots and sub-marginal lots, defined in terms of current potential uses, have values based on anticipated future rents.
- Subjects
REAL property &; taxation; REAL property tax; TAX incidence; ZONING; ECONOMIC equilibrium; HOME economics; RENT (Economic theory); INTEREST rates; URBAN planning
- Publication
Land Economics, 1967, Vol 43, Issue 2, p172
- ISSN
0023-7639
- Publication type
Article
- DOI
10.2307/3145240