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Temporary Property Tax Relief and Residential Home Sales

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  • Thomas Luke Spreen
  • Colton Keddington

Abstract

This paper tests whether temporary property tax relief influences sales of eligible properties. We examine the short-run impact of a new five-year property tax credit made available to long-tenured senior homeowners in Maryland using property-level assessment and transaction data. We find that the temporary credit resulted in a statistically insignificant and economically modest decline in sales of eligible properties. We also find no change in non-arm’s-length sales of eligible properties, which include foreclosures. The results suggest temporary property tax relief does not induce short-term lock-in effects among eligible homeowners.

Suggested Citation

  • Thomas Luke Spreen & Colton Keddington, 2023. "Temporary Property Tax Relief and Residential Home Sales," National Tax Journal, University of Chicago Press, vol. 76(3), pages 593-620.
    • Handle: RePEc:ucp:nattax:doi:10.1086/725504
    DOI: 10.1086/725504
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