000			01792nab#a2200289#c#4500
003			IEF
005			20180219153656.0
008			171024s2017 USA|| #####0 b|ENG|u
040			_aIEF
041			_aENG
100	1		_aDuca, John V. _961485
245			_aHow taxes and required returns drove comercial real estate valuations over the past four decades _c John V. Duca, Patric H. Hendershott and David C. Ling
260			_c2017
500			_aDisponible también en línea a través de la Biblioteca del Instituto de Estudios Fiscales. Resumen. Conclusión. Bibliografía.
650		4	_aPROPIEDAD INMOBILIARIA _948169
650		4	_aDEPRECIACIÓN _962124
650		4	_aCOMPRAVENTA _940148
650		4	_aIMPUESTOS _947460
650		4	_aESTADOS UNIDOS _942888
520			_aWe document the evolution of U.S. tax law regarding commercial real estate (CRE)since 1975, noting changes in income and capital gains tax ratesand tax depreciation methods. The most prominent changes were in the 1981 and 1986 Tax Acts, but numerous significant changes occurred in the last dozen years.We then computeboth the present value of tax depreciation per dollar of acquisition price and aneffective tax rate for CRE. We explain the quarterly variation in CRE capitalizationrates using an error-correction framework and find that the long-run estimates arestatistically significant in the way theory wouldsuggest. Moreover, the required financialasset return and the tax depreciation variables temporally predict (.cause.) capitalization rates in the long run, but not vice versa.
700	1		_aHendershott, Patric H. _920983
700	1		_aLing, David C. _926040
773	0		_tNational tax journal _w86491 _gv. 70, n. 3, September 2017, p. 549-584
942			_cART
942			_z148726
999			_c34317 _d34317