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Forecasting Open Space with a Two-Rate Property Tax

Forecasting Open Space with a Two-Rate Property Tax Abstract: A two-rate property tax (TPT) imparts different tax rates on land and structures. A hypothetical TPT is evaluated as an instrument to promote open space preservation. The potential TPT effects on open space equilibrium levels were compared with simulated equilibrium levels reflecting the TPT policy shock. Ex ante results suggest that equilibrium open space levels were positively displaced following a revenue-neutral tax policy on land. About 76% of the households valued open space more following a land value tax rate of 9.04%, which suggests that households in certain locations are likely to support programs or policies preserving open space. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Land Economics University of Wisconsin Press

Forecasting Open Space with a Two-Rate Property Tax

Cho, Seong-Hoon.
Land Economics , Volume 86 (2) – Apr 4, 2010
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Publisher
University of Wisconsin Press
Copyright
Copyright © University of Wisconsin Press
ISSN
1543-8325
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Abstract

Abstract: A two-rate property tax (TPT) imparts different tax rates on land and structures. A hypothetical TPT is evaluated as an instrument to promote open space preservation. The potential TPT effects on open space equilibrium levels were compared with simulated equilibrium levels reflecting the TPT policy shock. Ex ante results suggest that equilibrium open space levels were positively displaced following a revenue-neutral tax policy on land. About 76% of the households valued open space more following a land value tax rate of 9.04%, which suggests that households in certain locations are likely to support programs or policies preserving open space.

Journal

Land Economics – University of Wisconsin Press

Published: Apr 4, 2010

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