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The Effects of the Property Tax: A General Equilibrium Simulation

Author

Listed:
  • Richard Arnott
  • James G. MacKinnon

Abstract

This paper uses a general equilibrium model of residential land use to study the effects of the property tax in a closed city. Two different specifications of the production technology for housing are used, and yield similar results. The model is too complicated to be solved in closed form, but an efficient computational technique using a simple search algorithm was developed to solve it numerically. This type of model and computational technique can be applied to a wide variety of practical issues in urban economics.

Suggested Citation

  • Richard Arnott & James G. MacKinnon, 1976. "The Effects of the Property Tax: A General Equilibrium Simulation," Working Paper 205, Economics Department, Queen's University.
    • Handle: RePEc:qed:wpaper:205
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    Citations

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    Cited by:

    1. Hafiz A. Pasha, 1990. "The Differential Incidence of a Land Tax," Urban Studies, Urban Studies Journal Limited, vol. 27(4), pages 591-595, August.
    2. Song, Yan & Zenou, Yves, 2006. "Property tax and urban sprawl: Theory and implications for US cities," Journal of Urban Economics, Elsevier, vol. 60(3), pages 519-534, November.
    3. Richard Arnott & Petia Petrova, 2006. "The Property Tax as a Tax on Value: Deadweight Loss," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 13(2), pages 241-266, May.
    4. Larson, William & Yezer, Anthony, 2015. "The energy implications of city size and density," Journal of Urban Economics, Elsevier, vol. 90(C), pages 35-49.
    5. Jordan Rappaport, 2014. "A quantitative system of monocentric metros," Research Working Paper RWP 14-3, Federal Reserve Bank of Kansas City.
    6. B.G. Dahlby, 1982. "Traditional View of the Incidence of the Property Tax: an Examination," Public Finance Review, , vol. 10(3), pages 369-383, July.
    7. Anthony Yezer & William Larson & Weihua Zhao, 2018. "An Examination of the Link between Urban Planning Policies and the High Cost of Housing and Labor," Working Papers 2018-6, The George Washington University, Institute for International Economic Policy.
    8. A.F.Aisha Ghaus & Hafiz A. Pasha, 1996. "Excess Burden of the Property Tax: the Open Jurisdiction Case," Public Finance Review, , vol. 24(1), pages 120-128, January.
    9. David J. Schwegman & John Yinger, 2020. "The Shifting of the Property Tax on Urban Renters: Evidence from New York State�s Homestead Tax Option," Working Papers 20-43, Center for Economic Studies, U.S. Census Bureau.
    10. Yan Song & Yves Zenou, 2009. "How Do Differences In Property Taxes Within Cities Affect Urban Sprawl?," Journal of Regional Science, Wiley Blackwell, vol. 49(5), pages 801-831, December.
    11. Haughwout, Andrew F. & Inman, Robert P., 2001. "Fiscal policies in open cities with firms and households," Regional Science and Urban Economics, Elsevier, vol. 31(2-3), pages 147-180, April.
    12. Shin‐Kun Peng & Ping Wang, 2009. "A Normative Analysis of Housing‐Related Tax Policy in a General Equilibrium Model of Housing Quality and Prices," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 11(5), pages 667-696, October.
    13. Larson, William & Zhao, Weihua, 2020. "Self-driving cars and the city: Effects on sprawl, energy consumption, and housing affordability," Regional Science and Urban Economics, Elsevier, vol. 81(C).
    14. Robson, Edward N. & Wijayaratna, Kasun P. & Dixit, Vinayak V., 2018. "A review of computable general equilibrium models for transport and their applications in appraisal," Transportation Research Part A: Policy and Practice, Elsevier, vol. 116(C), pages 31-53.
    15. Larson, William & Yezer, Anthony & Zhao, Weihua, 2022. "Urban planning policies and the cost of living in large cities," Regional Science and Urban Economics, Elsevier, vol. 96(C).
    16. William Larson & Weihua Zhao, 2017. "Telework: Urban Form, Energy Consumption, And Greenhouse Gas Implications," Economic Inquiry, Western Economic Association International, vol. 55(2), pages 714-735, April.
    17. Donald K. Richter & John Griffin & Richard Arnott, 1990. "Computation of Dynamic User Equilibria in a Model of Peak Period Traffic Congestion with Heterogenous Commuters," Boston College Working Papers in Economics 198, Boston College Department of Economics.

    More about this item

    JEL classification:

    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
    • L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure
    • L68 - Industrial Organization - - Industry Studies: Manufacturing - - - Appliances; Furniture; Other Consumer Durables

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