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Property Taxation of Multifamily Housing: An Empirical Analysis of Vertical and Horizontal Equity and Assessment Methods

Author

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  • Gary C. Cornia

    (Visiting Senior Fellow, Lincoln Institute of Land Policy, 113 Brattle Street, Cambridge, MA 02138)

  • Barrett A. Slade

    (Marriott School, Brigham Young University, 685 TNRB, Provo, Utah 84602)

Abstract

This study used the hedonic price technique to focus on a housing characteristic that has been studied infrequently: whether a home is site-built or manufactured. Two hedonic price regression models were used to determine the predictive power of construction type on home price. The ?rst, which controlled for factors found to relate to home prices in previous research, showed a signi?cant difference between the prices of the two types of homes. The second, which also included other variables through a stepwise regression, found that the type of construction had more predictive power than any other explanatory variable in the model.

Suggested Citation

  • 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.
    • Handle: RePEc:jre:issued:v:27:n:1:2005:p:17-46
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    References listed on IDEAS

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    Cited by:

    1. Olha Krupa, 2014. "Housing Crisis and Vertical Equity of the Property Tax in a Market Value–based Assessment System," Public Finance Review, , vol. 42(5), pages 555-581, September.
    2. Mason Gaffney, 2009. "1. The Role of Land Markets in Economic Crises," American Journal of Economics and Sociology, Wiley Blackwell, vol. 68(4), pages 855-888, October.
    3. Shi, Song & Young, Martin & Hargreaves, Bob, 2009. "Issues in measuring a monthly house price index in New Zealand," Journal of Housing Economics, Elsevier, vol. 18(4), pages 336-350, December.
    4. 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.
    5. Jeffrey I. Chapman & Robert J. Johnston & Timothy J. Tyrrell, 2009. "Implications of a Land Value Tax with Error in Assessed Values," Land Economics, University of Wisconsin Press, vol. 85(4), pages 576-586.
    6. Brent C Smith, 2008. "Intrajurisdictional Segmentation of Property Tax Burdens: Neighborhood Inequities Across an Urban Sphere," Journal of Real Estate Research, American Real Estate Society, vol. 30(2), pages 207-224.

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    JEL classification:

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

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