Temporary property tax relief and residential home sales Thomas Luke Spreen and Colton Keddington
By: Spreen, Thomas Luke
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Contributor(s): Keddington, Colton.
Material type: 
ArticleSubject(s): PROPIEDAD | IMPUESTOS | PROPERTY TAX | IMPUESTO SOBRE LA PROPIEDAD | REDUCCIONES TRIBUTARIAS | VIVIENDA | COMPRAVENTA | ESTADOS UNIDOS
In:
National Tax Journal v. 76, n. 3, September 2023, p. 593–620Summary: This paper tests whether temporary property tax relief influences sales of eligible properties. We examine the short-run impact of a new five-year property tax credit made available to long-tenured senior homeowners in Maryland using property-level assessment and transaction data. We find that the temporary credit resulted in a statistically insignificant and economically modest decline in sales of eligible properties. We also find no change in non-arm’s-length sales of eligible properties, which include foreclosures. The results suggest temporary property tax relief does not induce short-term lock-in effects among eligible homeowners.
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This paper tests whether temporary property tax relief influences sales of eligible properties. We examine the short-run impact of a new five-year property tax credit made available to long-tenured senior homeowners in Maryland using property-level assessment and transaction data. We find that the temporary credit resulted in a statistically insignificant and economically modest decline in sales of eligible properties. We also find no change in non-arm’s-length sales of eligible properties, which include foreclosures. The results suggest temporary property tax relief does not induce short-term lock-in effects among eligible homeowners.
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