You can take it with you: transferability of Proposition 13 tax benefits, residential mobility, and willingness to pay for housing amenities
Center for Labor Economics, University of California, 2004 - Business & Economics - 41 pages
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55-year old age group allowed to transfer alternative houses average income average property taxes Bajari Bayer block group California 1990 California Constitution California in 1990 CATHERWOOD LIBRARY census block change in mobility choice model choice set choice variables coefficient Column counties detached house effect of Proposition effective property tax effective tax rates Equilibrium Figure fixed effects homeowner tenure homeowners by age house values housing and neighborhood housing characteristics housing choice housing market housing prices implicit tax benefit instrumental variable IPUMS Journal lock-in effect Mimeo mobility rates movers by age moving costs moving for homeowners multinomial logit MWTP estimates National Tax Journal number of rooms old homeowners paper population density probability of moving property tax rates Proposition 13 recent movers Residential revealed preference models sample Sonstelie Texas Tiebout transaction costs transfer the tax UC Berkeley unobserved housing quality unobserved quality Urban Economics user cost wealth effects willingness to pay