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作者

来源

REGIONAL SCIENCE AND URBAN ECONOMICS,Vol.67,P.78-89

语言

英文

关键字

Municipal incorporation; Property taxation; Decentralization; Endogenous political jurisdiction formation; Hedonic difference-in-differences; EXPENDITURES; INFERENCE; TAXATION; MODEL; TAX

作者单位

[Patrick, Carlianne] Georgia State Univ, Dept Econ, Andrew Young Sch Policy Studies, POB 3992, Atlanta, GA 30302 USA. [Mothorpe, Christopher] Coll Charleston, Sch Business, Dept Econ, 66 George St, Charleston, SC 29424 USA. Patrick, C (reprint author), Georgia State Univ, Dept Econ, Andrew Young Sch Policy Studies, POB 3992, Atlanta, GA 30302 USA. E-Mail: cpatrick@gsu.edu; MothorpeCA@CofC.edu

摘要

This paper investigates property value capitalization of municipal incorporation. Using detailed data from the metropolitan Atlanta area, our empirical strategy combines difference-in-differences hedonics with a relatively underutilized matching method from the class of monotonic imbalance bounding methods that approximates a fully blocked randomized experiment. We find that new city formation is positively capitalized into property values within the new city, increasing 4-5% in the two years following new city formation compared to the two years prior and 12-13% over the entire analysis period. The results also indicate that capitalization is stronger for parcels with greater potential for redistribution.