Property tax delinquency and its spillover effects on nearby properties
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- 作者：James Alma ; jalm@tulane.edu" class="auth_mail" title="E-mail the corresponding author ; Zackary Hawleyb ; z.hawley@tcu.edu" class="auth_mail" title="E-mail the corresponding author ; Jin Man Leec ; jlee141@depaul.edu" class="auth_mail" title="E-mail the corresponding author ; Joshua J. Millerd ; joshua.j.miller@hud.gov" class="auth_mail" title="E-mail the corresponding author
- 关键词：H71 ; R31
- 刊名：Regional Science and Urban Economics
- 出版年：2016
- 出版时间：May 2016
- 年：2016
- 卷：58
- 期：Complete
- 页码：71-77
- 全文大小：333 K
文摘
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One homeowner's financial distress is likely to affect nearby homeowners.
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This paper investigates the impact of property tax delinquency on nearby properties.
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We use a sample of delinquent properties for Chicago, Illinois during 2010 to 2013.
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We find large, negative, and significant price effects of delinquent properties.
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We estimate a negative spillover of 2.5% to 5.1% (or $6310 to $12,872).