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Article: Intrajurisdictional Segmentation of Property Tax Burdens: Neighborhood Inequities Across an Urban Sphere
- Article from:
- The Journal of Real Estate Research
- Article date:
- April 1, 2008
- Author:
CopyrightCopyright American Real Estate Society Apr-Jun 2008. Provided by ProQuest LLC. (Hide copyright information)
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Abstract
The results from this study extend the academic literature on vertical inequities in real property taxation by analyzing within jurisdictional variations in the property tax burden on residents of Chicago, Illinois. A two-stage model with an instrumental variable identifies tax burden variations between neighborhoods in a single metropolitan tax jurisdiction. A second model incorporates neighborhood and property characteristics in an examination of variations in the ratio of property tax to market value. The findings are vitally important to policymakers interested in funding urban redevelopment programs targeting wealth building through real estate ownership in low-income ...