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Measuring Vertical Property Tax Inequity in Multi-Family Property Markets

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  • Marcus T. Allen

    (Florida Atlantic University, Fort Lauderdale, FL 33314)

Abstract

Previous researchers have proposed numerous methods for detecting and measuring vertical inequity in property tax systems, where vertical equity refers to the assessment of all properties in a taxing jurisdiction at the same proportion of their market values. With evidence of inequitable assessments, property owners may be able to reduce property tax expenses by challenging their properties’ assessed values. This study demonstrates the application and interpretation of alternative methods for measuring vertical inequity in multi-family property markets using sample data. The results indicate that vertical inequities do exist in this sample, with lower valued properties being assessed at a higher proportion of market value than are higher value properties. This study suggests that owners of properties in lower value ranges in this market should carefully monitor the assessment process to minimize their property tax expense.

Suggested Citation

  • Marcus T. Allen, 2003. "Measuring Vertical Property Tax Inequity in Multi-Family Property Markets," Journal of Real Estate Research, American Real Estate Society, vol. 25(2), pages 171-184.
    • Handle: RePEc:jre:issued:v:25:n:2:2003:p:171-184
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    Citations

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    Cited by:

    1. Mary Beal & Mary O. Borg & Harriet Stranahan, 2017. "The Equity Effects of Property Tax Caps: Evidence from Florida," Academic Journal of Interdisciplinary Studies, Richtmann Publishing Ltd, vol. 6, July.
    2. Gary C. Cornia & Barrett A. Slade, 2005. "Property Taxation of Multifamily Housing: An Empirical Analysis of Vertical and Horizontal Equity and Assessment Methods," Journal of Real Estate Research, American Real Estate Society, vol. 27(1), pages 17-46.

    More about this item

    JEL classification:

    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

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