In 2001 the state of Minnesota reduced the weights assigned to non-residential property in local property tax bases, which increased residents' price of raising property tax revenue and affords the opportunity to identify the tax price elasticity of local tax revenues and expenditures. Results...

I develop a framework, based on tax price, which measures the distributional consequences of any alternative property tax base definition. Using administrative data, I show that defining tax base as market value produces large amounts of idiosyncratic tax-price risk. I show that an assessment...