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Author : J. Fred Giertz
Publisher :
ISBN 13 :
Total Pages : 21 pages
Book Rating : 4.:/5 (153 download)
Download or read book The Income Tax and Housing Tenure written by J. Fred Giertz and published by . This book was released on 1986 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Harvey S. Rosen
Publisher :
ISBN 13 :
Total Pages : 54 pages
Book Rating : 4.0/5 ( download)
Download or read book Housing Tenure, Uncertainty, and Taxation written by Harvey S. Rosen and published by . This book was released on 1983 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: Modern empirical work on the choice between renting and owning focuses on the concept of the "user cost" of housing, which integrates into a single measure the various components of housing costs. The standard approach implicitly assumes that households know the user cost of housing with certainty. However, the ex post user cost measure exhibits substantial variability over time, and it is highly unlikely that individuals believe themselves able to forecast these fluctuations with certainty. In this paper, we construct and estimate a model of the tenure choice that explicitly allows for the effects of uncertainty. The results suggest that previous work which ignored uncertainty may have overstated the effects of the income tax system upon the tenure choice.
Author : Anastasia Girshina
Publisher :
ISBN 13 :
Total Pages : 53 pages
Book Rating : 4.:/5 (13 download)
Download or read book Implications of Fiscal Policy for Housing Tenure Decisions written by Anastasia Girshina and published by . This book was released on 2019 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many of the world's wealthy countries provide fiscal incentives to homeowners. Yet, the impact of such tax breaks on housing tenure decision is unclear. Using difference-in-differences approach, this study estimates the effect of mortgage interest deduction on home ownership in the United States. The identification relies on the large changes in income tax rates and standard deduction. The largest of these changes increased income tax rate by as much as 23,9% and decreased standard deduction by 7,2% between 2002 and 2004. The baseline estimates suggest that increase in income tax rate in a state that allows mortgage interest deduction is associated to 3 percentage points increase in home ownership relative to states that didn't change their fiscal policy and to 5 percentage points - relative to states that do not allow mortgage interest deduction but had a comparable increase in tax rates. The results are robust to a range of alternative specifications.
Author : Matthew Chambers
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (2 download)
Download or read book The Tax Treatment of Homeowners and Landlords and the Progressivity of Income Taxation written by Matthew Chambers and published by . This book was released on 2007 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: "This paper analyzes the connection between the asymmetric tax treatment of homeowners and landlords and the progressivity of income taxation using a quantitative overlapping generations general equilibrium model with housing and rental markets. Our model emphasizes the determinants of tenure choice (own vs. rent) and the household decision to supply housing services to the rental market. This formulation breaks the link between the rental price and the equilibrium interest rate and, hence, the aggregate supply of rental property responds differently to the direction of rental price changes, marginal tax rate changes, and maintenance cost changes. We show that the model replicates the key factors and the distributional patterns of ownership, house size, and landlords. The degree of progressivity in the income tax code has important implications for housing tenure and housing consumption. We find a movement toward a less progressive income tax code can generate sizeable increases in homeownership and welfare that result from the equilibrium effects and a portfolio reallocation mechanism absent in economies with a single asset (i.e. Conesa and Krueger (2006)). An examination of the removal of existing asymmetries in the tax code are found to have effects on housing that differ from those reported in the literature. We show that housing policy can increase the ownership rate of a particular segment of the population, but generate nontrivial distributional costs. The welfare increases are no larger than those found when the progressivity of the tax code is reduced"--Federal Reserve Bank of St. Louis web site.
Author : Matthew Chambers
Publisher :
ISBN 13 :
Total Pages : 42 pages
Book Rating : 4.:/5 (129 download)
Download or read book The Tax Treatment of Homeowners and Landlords and the Progressivity of Income Taxation written by Matthew Chambers and published by . This book was released on 2014 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the connection between the asymmetric tax treatment of homeowners and landlords and the progressivity of income taxation using a quantitative overlapping generations general equilibrium model with housing and rental markets. Our model emphasizes the determinants of tenure choice (own vs. rent) and the household decision to supply housing services to the rental market. This formulation breaks the link between the rental price and the equilibrium interest rate and, hence, the aggregate supply of rental property responds differently to the direction of rental price changes, marginal tax rate changes, and maintenance cost changes. We show that the model replicates the key factors and the distributional patterns of ownership, house size, and landlords. The degree of progressivity in the income tax code has important implications for housing tenure and housing consumption. We find a movement toward a less progressive income tax code can generate sizeable increases in homeownership and welfare that result from the equilibrium effects and a portfolio reallocation mechanism absent in economies with a single asset (i.e. Conesa and Krueger (2006)). An examination of the removal of existing asymmetries in the tax code are found to have effects on housing that differ from those reported in the literature. We show that housing policy can increase the ownership rate of a particular segment of the population, but generate nontrivial distributional costs. The welfare increases are no larger than those found when the progressivity of the tax code is reduced.
Author : Richard E. Slitor
Publisher :
ISBN 13 :
Total Pages : 176 pages
Book Rating : 4.3/5 ( download)
Download or read book The Federal Income Tax in Relation to Housing written by Richard E. Slitor and published by . This book was released on 1968 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Richard K. Green
Publisher :
ISBN 13 :
Total Pages : 28 pages
Book Rating : 4.:/5 (13 download)
Download or read book Housing Tenure Choice, Race and the Recommendations of the President's Advisory Panel on Federal Tax Reform written by Richard K. Green and published by . This book was released on 2015 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we estimate the impact of tax policy on tenure choice using probit and housing expenditure regressions based on Public Use Microsample data from the 1990 and 2000 US Census. We find that tax policy has important impacts on tenure choice, and that the impact increased for blacks and hispanics between 1990 and 2000. We find that funding a tax credit with reductions in the mortgage interest deduction would increase home-ownership among minorities, but that the increase would be attenuated by lack of access to funds for down-payments. We also think a political consensus for reducing the mortgage interest deduction is unlikley, so we examined the possibility of giving households an option between a refundable credit and a deduction. Not surprisingly, this would also increase the ownership rate, but the impact would again be attenuated by liquidity constraints.
Author : James M. Poterba
Publisher :
ISBN 13 :
Total Pages : 28 pages
Book Rating : 4.F/5 ( download)
Download or read book Tax Reform and Residential Investment Incentives written by James M. Poterba and published by . This book was released on 1987 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Stephen A. Buser
Publisher :
ISBN 13 :
Total Pages : 10 pages
Book Rating : 4.:/5 (728 download)
Download or read book Tenure Choice Under a Progressive Tax Structure written by Stephen A. Buser and published by . This book was released on 1982 with total page 10 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Steven C. Bourassa
Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.3/5 ( download)
Download or read book A Model of Housing Tenure Choice in Australia written by Steven C. Bourassa and published by . This book was released on 1993 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Patric H. Hendershott
Publisher :
ISBN 13 :
Total Pages : 42 pages
Book Rating : 4.3/5 (9 download)
Download or read book Taxes and the User Cost of Capital for Owner-occupied Housing written by Patric H. Hendershott and published by . This book was released on 1982 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Owner-occupied housing is said to be favored in the tax code because mortgage interest and property taxes can be deducted in the computation of one's income tax base in spite of the fact that the returns from owner- occupied housing = not taxed. The special tax treatment reduces the user cost of capital for owner-occupied homing. The issue treated in this paper is the measurement of the tax rate to be employed in the user cost calculations. It is argued that different tax rates am appropriate for the tenure choice and quantity-demanded decisions, and that these values depend on the detailed tax position of the household and the method of finance. Average 1977 tax rates for households in different income ranges are calculated using the NBER TAXSIM microeconomic data file on individual tax returns.
Author : Ronald John Sepanik
Publisher :
ISBN 13 :
Total Pages : 444 pages
Book Rating : 4.:/5 (89 download)
Download or read book The Income Tax Advantage to Owner-occupancy written by Ronald John Sepanik and published by . This book was released on 1979 with total page 444 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Sir Thomas Palmer Whittaker
Publisher :
ISBN 13 :
Total Pages : 616 pages
Book Rating : 4.3/5 (91 download)
Download or read book The Ownership, Tenure and Taxation of Land, Some Facts, Fallacies and Proposals Relating Thereto written by Sir Thomas Palmer Whittaker and published by . This book was released on 1914 with total page 616 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jui-Ying Hung
Publisher :
ISBN 13 :
Total Pages : 224 pages
Book Rating : 4.:/5 (361 download)
Download or read book Tenure Choice and the Ratio of Housing Expenditures to Income written by Jui-Ying Hung and published by . This book was released on 1994 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Philippe Thalmann
Publisher :
ISBN 13 :
Total Pages : 24 pages
Book Rating : 4.:/5 (129 download)
Download or read book Equity and Neutrality in Housing Taxation written by Philippe Thalmann and published by . This book was released on 2015 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: Equity and neutrality are distinct concepts in housing taxation and weak and strong tenure neutrality should be distinguished. When a tax system is tested for those criteria, the taxes paid by landlords must be included, as they affect the rents renters pay. This paper defines appropriate tests, applies them to a stylised tax system and simulates tax changes designed to restore equity and/or neutrality. It shows how the homeowner's implicit income should be computed for taxes to be fundamentally tenure neutral or equitable or both. And it shows the key role played by the differential in producing housing services under owner-occupation and renting.
Author : Seth B. Sacher
Publisher :
ISBN 13 :
Total Pages : 52 pages
Book Rating : 4.3/5 ( download)
Download or read book Housing Demand and Property Tax Incidence in a Life-cycle Framework written by Seth B. Sacher and published by . This book was released on 1991 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Patric H. Hendershott
Publisher :
ISBN 13 :
Total Pages : 30 pages
Book Rating : 4.:/5 (697 download)
Download or read book The Economics of Tenure Choice, 1955-79 written by Patric H. Hendershott and published by . This book was released on 1980 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: The aggregate homeownership rate in the United States has continued to rise throughout the 1970s despite rising inflation and the rapid growth of young and primary individual households with relatively low homeownership rates. This appears to be a result of a decline in the cost of homeownership relative to renting. The post 1965 decline in the real after-tax interest rate has acted to reduce the costs of both types of housing. However, inflation, and legislation induced increases in taxation of rental housing have largely offset the decline in the net real financing rate. Depreciation is based on historic cost and nominal capital gains are taxed. Moreover, this taxation was increased in 1969 and 1976 with the introduction and expansion of the minimum tax, the increased recapture of accelerated depreciation, and the amortization, rather than expensing, of construction period interest and property taxes. The decline in the cost of owner-occupied housing relative to rental housing is estimated to have sharply increased homeownership. In the absence of this decline 4.5 to 5 million fewer households would have been homeowners at the end of 1978. That is, the homeownership rate would have been 60 percent, rather than 65 percent
