Field Guide to Impacts Of Property Taxes On Real Estate
(Updated August 2006)
Local governments depend upon property tax receipts to provide services and programs for area residents. Property taxes are also the levy most taxpayers love to hate the most, even though federal income taxes usually take a larger percentage of household income. This page offers articles, studies, and other information on the relationship between property taxes, government services, and property values. (D. Foligno, Project Specialist)
Contents:
Property Taxes - What You Should Know | Impacts on Property Values | Managing Property Taxes | Books, eBooks & Other Resources
Property Tax Statistics
$286-billion in property taxes was paid in 2002-03
40% believe the property tax is the least fair tax
12% of cities cut 2005 property tax rates
5% of property assessments are appealed
Source: Property Tax: A Vexing Issue On the Homestead, (Kiplinger's Personal Finance, Apr. 2006). Q
Property Taxes - What You Should Know 
Homeowners fret over rising property taxes, (CNN Money, Dec. 23, 2007).
Homeowners wage a rebellion as property-tax assessments rise, (Yahoo Finance, May 4, 2007).
Will work for property taxes: property taxes & seniors, (Tierra Grande/Texas A&M, Apr. 2007).
Why some homeowners may not be smiling for these cameras, (New York Times, Aug. 2006).
Who pays the property tax?, (Lincoln Institute of Land Policy, Apr. 2006).
Property tax credits offered through state income tax systems, (Tax Policy Center, Nov. 2005).
Property tax payback, (CNN Money.com, Nov. 2005).
Tenants suffer as higher taxes force landlords to raise rents, (Herald Tribune.com, Sept. 2005).
What we know and what we need to know about education, funding and taxes, (Rutgers Law School, June 2005).
America's fastest rising taxes, (CNN Money.com, June 2005).
Tax breaks for homeowners, (Texas A&M, Mar. 2005).
Houses, apartments and property tax incidence, (Harvard Joint Center for Housing Studies, Feb. 2005).
'Assessing' discrimination: the influence of race in residential property tax assessments, (Florida State University Journal of Land Use, Fall 2004).
Property Taxes in the 2000 Census, (Housing Economics, Jan. 2003). Q
The taxpayer's view of the property valuation process, (Journal of Property Tax Management, Winter 2002). Q
History of property taxes in the U.S., (EH.net Encyclopedia, Oct. 2002).
Impacts on Property Values
Fiscal policy and property values, (Nat. Center for Real Estate Research. Nov. 2006).
Connections between economic development and land taxation, (Lincoln Institute of Land Policy, Apr. 2006).
The economic effects of today's property tax, (Common Ground USA, Feb. 2004).
Remodeling's hidden cost: higher taxes, (CNN Money.com, Dec. 2003).
The effect of personal property tax repeal on Pennsylvania's real estate tax growth and stability, (National Tax Journal, Mar. 2003). Q
Property tax increases hit home, (Tierra Grande, July 2002).
The impact of property taxes and growth restrictions on real estate prices, (South Carolina Real Estate Center, Nov. 2000).
The effect of property taxes on home values, (Journal of Real Estate Literature, Aug. 2000). Q
The impact of urban land taxation: The Pittsburgh experience, (National Tax Journal, Mar. 1997). Q
Managing Property Taxes
IRS property tax FAQs, (IRS.gov, 2006).
The dark side of the boom, (CNN Money.com, Jan. 2005).
Challenging the tax man, (National Real Estate Investor, May 2003).
Taxes going through the roof? Your house may be unfairly assessed by the local authorities, (Business Week, Feb. 3, 2003).
Knowing when to appeal a tax bill, (National Real Estate Investor, Feb. 2003).
Questions you should ask about property taxes, (Realty Times, Sept. 28, 2001).
How to contest your property taxes and win, (Realty Times, June 7, 2000).
Successfully negotiating with assessors, (Tierra Grande, 1998).
Awareness and popularity of property tax relief programs, (Assessment Journal, July/Aug. 1998). Q
eBooks & Other Resources
Books, Videos, Research Reports & More
The resources below are available for loan through Information Central. Up to three books, tapes, CDs and/or DVDs can be borrowed for 30 days from the Library for a nominal fee of $10. Call Information Central at 800.874.6500 for assistance.
Can property taxes and development charges help shape metropolitan areas? The effect of development charges and property taxes on development, (Wharton Real Estate Review, Fall 2003).
A Guide to Property Taxes: An Overview, (Denver, CO: National Conference of State Legislatures, 2002). HJ 4120 N21g
The Homevoter Hypothesis: How Home Values Influence Local Government Taxation, School Finance, and Land-Use Policies, (Cambridge, MA: Harvard University Press, 2001). JS 391 F57
The Worst Tax? A History of the Property Tax in America, (Lawrence, KS: University Press of Kansas, 1996). HJ 4120 F57
How to Reduce Your Property Tax: A Comprehensive Guide to Residential Property Taxes in the United States and Canada, (Miami, FL: Genesis Press, 1995). HJ 4120 Ad5
Property Taxes & Tax Revolts: The Legacy of Proposition 13, (New York, NY: Cambridge University Press, 1995). HJ 4191 O85
The Homeowner's Property Tax Relief Kit, (New York, NY: McGraw-Hill, 1992). HJ 3241 C99
Small Property Versus Big Government: Social Origins of the Property Tax Revolt, (Berkeley, CA: University of California Press, 1990). HJ 4120 L78
Field Guides & More
These Field Guides and other resources in the Virtual Library may also be of interest:
Field Guide to Real Estate Transfer Taxes
Field Guide to Development Impact Fees
Field Guide to Schools & the Homebuying Decision
>> Have an idea for a new Field Guide? Click here to send us your suggestions!
The inclusion of links on this Field Guide does not imply endorsement by the National Association of REALTORS®. NAR makes no representations about whether the content of any external sites which may be linked to this Field Guide complies with state or federal laws or regulations or with applicable NAR policies. These links are provided for your convenience only and you rely on them at your own risk.
