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The Effects of Local Government Expenditure and Property Taxes on Investment

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  • Albert M. Church

Abstract

The effect of local government property taxes and expenditures on investment in housing and manufacturing plant and equipment is analyzed in theoretic model and tested empirically. An investment model of firm behavior is developed and implications regarding the effects are deduced. These implications are tested in a single equation model of investment in single‐ and multifamily structures and capital investment in manufacturing in eleven urban cities and their eighty‐nine suburbs. Tentative conclusions that additional municipal expenditures increase investment and a higher effective property tax rate diminishes it are supported and that cities have on average exhausted the net benefits of increasing balanced budgets.

Suggested Citation

  • Albert M. Church, 1981. "The Effects of Local Government Expenditure and Property Taxes on Investment," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 9(2), pages 165-180, June.
    • Handle: RePEc:bla:reesec:v:9:y:1981:i:2:p:165-180
    DOI: 10.1111/1540-6229.00238
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    Cited by:

    1. Bev Dahlby & Ergete Ferede & Mukesh Khanal, 2021. "The Impact of Property Taxation on Business Investment in Alberta," SPP Research Papers, The School of Public Policy, University of Calgary, vol. 14(3), March.
    2. Richard L. Ott & David M. Andrus, 2000. "The Effect of Personal Property Taxes on Consumer Vehicle-Purchasing Decisions: A Partitioned Price/Mental Accounting Theory Analysis," Public Finance Review, , vol. 28(2), pages 134-152, March.
    3. Robert Tannenwald, 1994. "Massachusetts' tax competitiveness," New England Economic Review, Federal Reserve Bank of Boston, issue Jan, pages 31-49.

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