Property Taxes and Their Limits: Evidence from New York City
28 Pages Posted: 12 Jan 2014 Last revised: 8 Feb 2014
Date Written: February 2014
I report evidence from New York City that property assessment caps on small residential properties represent a significant tax benefit that accrues to the most valuable properties and the wealthiest neighborhoods. Moreover, rather than benefiting the long-time homeowners on fixed incomes who are their putative targets, the largest benefits go to the properties that are most likely to have been recently sold and to be located in neighborhoods where cash incomes have increased the most.
Keywords: property tax, assessment caps
Suggested Citation: Suggested Citation
Hayashi, Andrew T., Property Taxes and Their Limits: Evidence from New York City (February 2014). Stanford Law & Policy Review, Forthcoming, Virginia Law and Economics Research Paper No. 2014-04, Available at SSRN: https://ssrn.com/abstract=2377590
Do you have a job opening that you would like to promote on SSRN?
Feedback to SSRN
If you need immediate assistance, call 877-SSRNHelp (877 777 6435) in the United States, or +1 212 448 2500 outside of the United States, 8:30AM to 6:00PM U.S. Eastern, Monday - Friday.