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Article: Beggar thy neighbor? Property taxation of vacation homes.
- Article from:
- National Tax Journal
- Article date:
- December 1, 2006
- Author:
CopyrightCOPYRIGHT 2006 National Tax Association. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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INTRODUCTION
According to the U.S. Census, as of 1999 there were approximately 3.6 million vacation homes in the United States. Vacation homes constitute just over three percent of all housing units in the United States, with 14 states having at least five percent of their housing units classified as vacation homes. Maine and Vermont are the states with the highest concentration of vacation homes, with vacation homes representing 15.6 percent and 14.6 percent of their housing units, respectively.
Owners of vacation homes argue that their local property tax payments are too high given that they spend very little time in the locality and, thus, consume ...