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Effect of Socio-Economic Stratification on House Value in Bogotá

Author

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  • Gallego, Juan
  • Montoya, Sergio
  • Sepúlveda, Carlos

Abstract

This paper investigates the impact of urban fiscal policies on housing value. We use a focalization system in Bogotá where certain subsidies and taxes are targeted based on a classification of houses according to external conditions and urban surroundings (socioeconomic stratification). We use a regression discontinuity design, and a rich dataset on cadastre appraisal and housing characteristics, to assess whether a higher tax burden affects the property value. Our results suggest that the usual (negative) capitalization effect is compensated by other channels. We show evidence that as stratum increases, investment on the house maintenance improve.

Suggested Citation

  • Gallego, Juan & Montoya, Sergio & Sepúlveda, Carlos, 2016. "Effect of Socio-Economic Stratification on House Value in Bogotá," Research Department working papers 994, CAF Development Bank Of Latinamerica.
    • Handle: RePEc:dbl:dblwop:994
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    File URL: https://scioteca.caf.com/handle/123456789/994
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    Cited by:

    1. Marcos Deuñas & Mercedes Campi & Luis Olmos, 2020. "Changes in mobility and socioeconomic conditions in Bogotá city during the COVID-19 outbreak," Working Papers 30, Red Nacional de Investigadores en Economía (RedNIE).
    2. Marcos Deuñas & Mercedes Campi & Luis Olmos, 2020. "Changes in mobility and socioeconomic conditions in Bogotá city during the COVID-19 outbreak," Working Papers 30, Red Nacional de Investigadores en Economía (RedNIE).
    3. Marco Dueñas & Mercedes Campi & Luis E. Olmos, 2021. "Changes in mobility and socioeconomic conditions during the COVID-19 outbreak," Palgrave Communications, Palgrave Macmillan, vol. 8(1), pages 1-10, December.

    More about this item

    Keywords

    Ciudades; Economía; Finanzas públicas; Impuestos; Investigación socioeconómica; Políticas públicas; Vivienda;
    All these keywords.

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