Applying the Hedonic Pricing Model to the Prices of Single-Family Homes in the Oldest U.S. City, St. Augustine, Florida, Testing Whether Property Taxes Are Capitalized into Housing Prices Report as inadecuate




Applying the Hedonic Pricing Model to the Prices of Single-Family Homes in the Oldest U.S. City, St. Augustine, Florida, Testing Whether Property Taxes Are Capitalized into Housing Prices - Download this document for free, or read online. Document in PDF available to download.

Abstract

This empirical investigation applies a hedonic pricing model to determine whether property taxes have been capitalized into housing prices of single-family homes in city of St. Augustine, Florida housing market for single family homes. There were sufficient data in this context to study a total of 4,017 single-family houses for the six-year period from 2008 to 2013 period. The sales price and property tax levels are expressed real terms, i.e., in 2005 dollars. The semi-log estimation reveals, among other things, that the natural log of the real sales price of a single-family house in the St. Augustine area was in fact negatively affected by the city and county property tax level.



Item Type: MPRA Paper -

Original Title: Applying the Hedonic Pricing Model to the Prices of Single-Family Homes in the Oldest U.S. City, St. Augustine, Florida, Testing Whether Property Taxes Are Capitalized into Housing Prices-

English Title: Applying the Hedonic Pricing Model to the Prices of Single-Family Homes in the Oldest U.S. City, St. Augustine, Florida, Testing Whether Property Taxes Are Capitalized into Housing Prices-

Language: English-

Keywords: housing prices; property tax capitalization; market mechanism-

Subjects: H - Public Economics > H2 - Taxation, Subsidies, and Revenue > H24 - Personal Income and Other Nonbusiness Taxes and SubsidiesH - Public Economics > H7 - State and Local Government ; Intergovernmental Relations > H71 - State and Local Taxation, Subsidies, and RevenueR - Urban, Rural, Regional, Real Estate, and Transportation Economics > R2 - Household Analysis > R21 - Housing DemandR - Urban, Rural, Regional, Real Estate, and Transportation Economics > R3 - Real Estate Markets, Spatial Production Analysis, and Firm Location > R32 - Other Spatial Production and Pricing AnalysisR - Urban, Rural, Regional, Real Estate, and Transportation Economics > R3 - Real Estate Markets, Spatial Production Analysis, and Firm Location > R38 - Government Policy-





Author: Angjellari-Dajci, Fiorentina

Source: https://mpra.ub.uni-muenchen.de/55587/







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