Taxation on land value and development when there are negative externalities from development

Jyh Bang Jou, Tan Lee

研究成果: 雜誌貢獻期刊論文同行評審

10 引文 斯高帕斯(Scopus)

摘要

This article employs a real options framework to investigate the design of taxation on both land value and development in a competitive real estate market. We assume that developed properties reduce open space, and thereby harm urban residents. However, ignoring this negative externality, landowners will develop properties sooner than is socially optimal. A regulator can correct this tendency by imposing a positive tax on development or a negative tax on land value. Alternatively, the regulator can implement both instruments simultaneously, in which case an increase in the tax rate on development will be accompanied by an increase in the tax rate on land value, and vice versa.

原文???core.languages.en_GB???
頁(從 - 到)103-120
頁數18
期刊Journal of Real Estate Finance and Economics
36
發行號1
DOIs
出版狀態已出版 - 1月 2008

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