I develop a framework, based on tax price, that 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...

This report looks at local governments’ biggest source of revenue: property taxes. The authors provide a primer on how the taxes are calculated, and new formulas for understanding an individual’s tax share. The authors also propose an alternative format for local property tax statements that...

The lack of property tax escrow accounts among subprime mortgages causes borrowers to make large lump-sum tax payments that reduce liquidity. Different property tax collection dates across states and counties create exogenous variation in the time between loan origination and the first property...