Risky local tax bases: risk-pooling vs. rent-capture

Article Abstract:

A model was created to illustrate the relationship between risk-pooling and rent-capture. The model revealed that when a jurisdiction's land or other fixed resources are owned by non-residents, implementation of confiscatory taxes enables residents to capture rents of non-residents. On the other hand, confiscatory taxes becomes disadvantageous to risk-pooling whenever different jurisdictions are subjected to less than perfectly correlated risks.

Analysis, Risk (Economics), Tax research

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Property taxation, congestion, and local public goods

Article Abstract:

Previous literature view residential property tax as a congestion fee to compensate for the additional congestion costs to providing the existing levels of public goods, resulting to distortions in housing decisions. The rule for a jurisdiction's optimal public goods supply could, however, be written without giving property taxes the role of a congestion fee.

Housing policy, Property taxes, Public goods, Property tax

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Imperfect mobility and local government behavior in an overlapping-generations model

Article Abstract:

Issues concerning the ways in which local governments tend to maximize the value of the land in situations of generations overlaps characterized by imperfect mobility are discussed. Particular attention is given to the financial importance of location-specific capitals and mobility.

Management, Local government, Land value taxation

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