Property Assessments and Information Asymmetry in Residential Real Estate
- Topics:
- Real Estate Services,
- Regulations
- Tags:
- Assessment,
- Finance,
- Financial Planning,
- Free Trade,
- Real Estate,
- Taxes
FREE Registration is required
Overview: The paper presents a game theoretic model of property tax assessment that allows a tax appraiser to either choose a high a low assessment. The owner either accepts or challenges this assessment. It then uses a "fixed effects" regression model to evaluate the differences in assessed values of a sample of houses from Bexar County, Texas during 2000 and 2001. Where the owner of the house is identified as a state licensed property tax consultant, the assessed value, after adjusting for size, age, and other economic characteristics, ranged from a statistically robust 2.5% to 6.2% lower than neighboring houses.
(Is this item miscategorized? Does it need more tags? Let us know.)
Format: PDF | Size: 259KB | Date: Aug 2005 | Pages: 26
