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Author : Paul Edward Merz
Publisher :
ISBN 13 :
Total Pages : 174 pages
Book Rating : 4.:/5 (319 download)
Download or read book The Income Tax Treatment of Owner-occupied Housing written by Paul Edward Merz and published by . This book was released on 1961 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : James R. Follain
Publisher :
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4.:/5 (231 download)
Download or read book The Preferential Income Tax Treatment of Owner-occupied Housing written by James R. Follain and published by . This book was released on 1993 with total page 32 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 : Richard B. Goode
Publisher :
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.3/5 (21 download)
Download or read book Imputed Rent of Owner-occupied Dwellings Under the Income Tax written by Richard B. Goode and published by . This book was released on 1960 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Michael Ball
Publisher :
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4.:/5 (5 download)
Download or read book Taxation and the Owner Occupied Housing Market written by Michael Ball and published by . This book was released on 1990 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : James M. Poterba
Publisher :
ISBN 13 :
Total Pages : 64 pages
Book Rating : 4.0/5 ( download)
Download or read book Income Tax Provisions Affecting Owner-occupied Housing written by James M. Poterba and published by . This book was released on 2008 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: The mortgage interest deduction, the property tax deduction, the unique treatment of capital gains on owner-occupied homes, and the absence of taxation on imputed rent from owner-occupied homes all influence the effective cost of housing services. They also affect federal income tax revenues and the distribution of income tax liabilities. We draw on household-level data from the 2004 Survey of Consumer Finances to analyze how several potential reforms would affect incentives for housing consumption as well as the distribution of income tax burdens. Our analysis recognizes that changing the mortgage interest deduction would induce changes in household financial behavior. We estimate that repealing the mortgage interest deduction in 2003 would have raised income tax revenues by $72.4 billion in the absence of any portfolio adjustments, but by only $61.9 billion if homeowners responded by drawing down a limited set of financial assets to partially replace their mortgage debt. The revenue effects of changing the property tax deduction similarly depend on how state and local governments alter their mix of revenue instruments in response to federal tax reform. Our results underscore the importance of recognizing behavioral responses when calculating the revenue costs of income tax provisions relating to owner-occupied housing.
Author : Krister Andersson
Publisher : International Monetary Fund
ISBN 13 : 1451948808
Total Pages : 38 pages
Book Rating : 4.4/5 (519 download)
Download or read book Investment in Housing in the United States written by Krister Andersson and published by International Monetary Fund. This book was released on 1990-10-01 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is well known that the preferential tax treatment of housing induces an inefficient allocation of saving and investment. This paper analyzes, in a portfolio framework, how eliminating the deductibility of mortgage interest payments for federal income tax purposes might affect investment in housing. Expected rate of return and risk is estimated for three assets, bonds, housing, and stocks. The possibility that assets are imperfect substitutes is explicitly recognized in one section of the paper. The model suggests that the share of housing is likely to decrease by 4 to 9 percentage points if mortgage interest payments are not deductible. This may call for careful phasing of the change in policy.
Author : Frank De Leeuw
Publisher :
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4.3/5 (91 download)
Download or read book The Impact of the Federal Income Tax on Investment in Housing written by Frank De Leeuw and published by . This book was released on 1981 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Sang-Wook (Stanley) Cho
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Tax Treatment of Owner Occupied Housing and Wealth Inequality written by Sang-Wook (Stanley) Cho and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the U.S., mortgage interest deductibility provides a financial incentive for home ownership over renting as well as an incentive to 'over-consume' housing since houses are not fungible. Home-ownership is also often promoted as a safe means of wealth creation. We construct and calibrate a quantitative general equilibrium lifecycle model with home-ownership and mortgage decisions to investigate the degree to which the wealth inequality in the United States is driven by the home mortgage interest deduction and the untaxed nature of imputed rents from owner-occupied housing. As the tax treatment of housing will disproportionately create tax savings for the top deciles of the income distribution, we quantify how the tax deductibility contributes to the heavily skewed distribution of wealth in the United States using data from the Survey of Consumer Finances. Although the tax treatment of owner occupied housing alone is unlikely to produce the extreme wealth concentration at the far right tail of the distribution, we argue that it is re-enforced by a bequest motive. We find that removing mortgage interest deductibility and taxing imputed rents reduces the Gini coefficient by 0.04 points, caused by a re-allocation of wealth from the top 10 percentiles to the bottom 50 percentiles of the wealth distribution.
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 : Makoto Nakajima
Publisher :
ISBN 13 :
Total Pages : 42 pages
Book Rating : 4.:/5 (69 download)
Download or read book Optimal Capital Income Taxation with Housing written by Makoto Nakajima and published by . This book was released on 2010 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper quantitatively investigates the optimal capital income taxation in the general equilibrium overlapping generations model, which incorporates characteristics of housing and the U.S. preferential tax treatment for owner-occupied housing. Housing tax policy is found to have a substantial effect on how capital income should be taxed. Given the U.S. preferential tax treatment for owner-occupied housing, the optimal capital income tax rate is close to zero, contrary to the high optimal capital income tax rate implied by models without housing. A lower capital income tax rate implies a narrowed tax wedge between housing and non-housing capital, which indirectly nullifies the subsidies (taxes) for homeowners (renters) and corrects the over-investment to housing.
Author : James M. Poterba
Publisher :
ISBN 13 :
Total Pages : 28 pages
Book Rating : 4.:/5 (7 download)
Download or read book Inflation, Income Taxes and Owner-occupied Housing written by James M. Poterba and published by . This book was released on 1980 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : David Geltner
Publisher :
ISBN 13 :
Total Pages : 25 pages
Book Rating : 4.:/5 (13 download)
Download or read book The Income Tax Penalty on Rental Vs Owner-Occupied Housing written by David Geltner and published by . This book was released on 2015 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a novel analysis of the differential incidence and effect of Federal income tax policy on owner-occupied and rental housing in the U.S. The objective is to examine whether, and how, rental housing is penalized relative to owner-occupied housing, and if so to estimate the magnitude of any such penalty that is caused by Federal income tax policy. The findings of the analysis suggest that a penalty does exist on rental housing relative to owner-occupied housing, and that the magnitude is substantial. On a present value capitalized basis the relative penalty is likely on the order of one-quarter the value of the housing. The model presented in this paper is novel in that it applies the basic tenets of modern corporate finance theory to identify the sources and magnitude of the differential tax impact. The causes of the differential impact that are thusly identified suggest a policy remedy that differs from the one traditionally proposed, which is simply to eliminate the home mortgage interest tax deduction. Instead, the analysis herein suggests that the home mortgage tax deduction is not the source of the differential tax impact (for one thing, interest on mortgages financing rental apartments is also deductible from the landlord's taxable income, and for another, lenders providing the mortgage capital are generally taxable investors on the margin). Rather, the model presented here implies that the more direct and appropriate policy remedy would be to allow apartment investment income to be deductible from taxable income. This could also be a more politically feasible policy than to remove the mortgage deduction.
Author : Joshua E. Greene
Publisher :
ISBN 13 :
Total Pages : 100 pages
Book Rating : 4.3/5 (121 download)
Download or read book The Tax Treatment of Homeownership written by Joshua E. Greene and published by . This book was released on 1981 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : New Jersey. Division of Taxation. Research and Statistics Section
Publisher :
ISBN 13 :
Total Pages : 442 pages
Book Rating : 4.M/5 ( download)
Download or read book Owner Occupied Housing Statistics from Homestead Rebate and Income Tax Data Match written by New Jersey. Division of Taxation. Research and Statistics Section and published by . This book was released on 1980 with total page 442 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Michael A. Stegman
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.:/5 (319 download)
Download or read book Variations in Property Taxes and Investment in Owner-occupied Housing written by Michael A. Stegman and published by . This book was released on 1968 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Gavin A. Wood
Publisher :
ISBN 13 :
Total Pages : 124 pages
Book Rating : 4.0/5 ( download)
Download or read book Taxation and Housing written by Gavin A. Wood and published by . This book was released on 1991 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt:
