Studies often show taxes and public services capitalized into house prices, but no one has tested whether the rate of capitalization depends on community size. The theoretical model of Hoyt (Regional Science and Urban Economics, 29, 155-171, 1999) predicts that capitalization occurs, but that...

Studies often show taxes and public services capitalized into house prices, but no one has tested whether the rate of capitalization depends on community size. The theoretical model of Hoyt (Regional Science and Urban Economics, 29, 155-171, 1999) predicts that capitalization occurs, but that...

We examine the characteristics of people who say they buy their houses for environmental quality, school quality, public safety and low taxes. We find, for example, that young people and people without school-aged children are more likely to buy their house for low taxes. We estimate a house...

School districts that vote in favor of property tax levies may signal that they are education-oriented. Through Tiebout sorting and housing developer activity, new residents might move to such communities. New retail development may occur near these new residents, and office firms that rely on...

School district consolidation is often purported to save taxpayers money. However, the current study shows that doubling the size of a school lowers student proficiency passage rates by 1%. In turn, this lowers the average house price by $400. This represents 30% of the total loss in house value...