| Property Taxes and Elderly Mobility. | |
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MedLine Citation:
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PMID: 20161617 Owner: NLM Status: Publisher |
Abstract/OtherAbstract:
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The 2000-05 housing market boom in the U.S. has caused sharp increases in residential property taxes. Housing-rich but income-poor elderly homeowners often complain about rising tax burdens, and anecdotal evidence suggests that some move to reduce their tax burden. There has been little systematic analysis, however, of the link between property tax levels and the mobility rate of elderly homeowners. This paper investigates this link using household-level panel data from the Health and Retirement Study (HRS) and a newly collected data set on state-provided property tax relief programs. These relief programs generate variation in effective property tax burdens that is not due solely to arguably endogenous local community choices about taxes and expenditure programs. The findings provide evidence suggesting that higher property taxes raise mobility among elderly homeowners. The point estimates from instrumental variable estimation using relief programs to generate instruments suggest that a $100 increase in annual property taxes is associated with a 0.73 percentage point increase in the two-year mobility rate for homeowners over the age of 50. This is an eight percent increase from the baseline two-year mobility rate of nine percent. These results are robust to alternative specifications. |
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Authors:
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Hui Shan |
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Publication Detail:
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Type: JOURNAL ARTICLE |
Journal Detail:
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Title: Journal of urban economics Volume: 67 ISSN: 0094-1190 ISO Abbreviation: - Publication Date: 2010 Mar |
Date Detail:
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Created Date: 2010-7-13 Completed Date: - Revised Date: - |
Medline Journal Info:
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Nlm Unique ID: 101084734 Medline TA: J Urban Econ Country: - |
Other Details:
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Languages: ENG Pagination: 194-205 Citation Subset: - |
Affiliation:
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Federal Reserve Board of Governors, 20th and C Street NW, Washington DC, 20551. |
Export Citation:
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| MeSH Terms | |
Descriptor/Qualifier:
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| Grant Support | |
ID/Acronym/Agency:
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P01 AG005842-20//NIA NIH HHS |
From MEDLINE®/PubMed®, a database of the U.S. National Library of Medicine
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