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作者

来源

JOURNAL OF URBAN ECONOMICS,Vol.100,P.137-153

语言

英文

关键字

Housing transfer taxes; Lock-in; Tax notches; CAPITAL-GAINS TAXATION; TAXPAYER RELIEF ACT; MARKET; MOBILITY

作者单位

[Slemrod, Joel] Univ Michigan, Dept Business Econ, 701 Tappan St, Ann Arbor, MI 48109 USA. [Slemrod, Joel] Univ Michigan, Dept Econ, 701 Tappan St, Ann Arbor, MI 48109 USA. [Weber, Caroline] Dept Econ, 1285 Univ Oregon, Eugene, OR 97405 USA. [Shan, Hui] 25 Hudson St, Jersey City, NJ 07302 USA. Weber, C (reprint author), Dept Econ, 1285 Univ Oregon, Eugene, OR 97405 USA. E-Mail: jslemrod@umich.edu; cweber5@uoregon.edu; huishan79@gmail.com

摘要

This paper estimates the behavioral response to residential real estate transfer taxes by studying notched tax rate changes in Washington D.C., exploiting both a price and time notch as identifying variation. We provide evidence that there is manipulation of the sales price to the lower-tax-rate region around the price notch, and use this manipulation to show that there was significant awareness of the tax changes and the incentives they created. We then construct difference-in-difference estimates to examine whether there is a lock-in effect in the volume of house sales away from the price and time notches; we find no evidence of a lock-in effect in this setting. Taken together, our results suggest that the welfare costs of a state introducing or eliminating a housing transaction tax are small. (C) 2017 Elsevier Inc. All rights reserved.