재산세와 지방 공공서비스가 주택가격에 미치는 효과: 뉴욕 웨체스터의 사례

뉴욕 웨체스터의 재산세와 공공서비스가 주택가격에 미치는 영향을 분석했다.

This paper has examined empirically as to whether differences in local property tax rates and public service levels may be reflected in housing prices. The multiple regression model provides the cross-sectional analysis for single family residential housing prices in 43 municipalities in Westchester County, which is located within the New York metropolitan area. The simple area weighted interpolation technique with the use of GIS is helpful to solve the problem of the incompatible spatial data due to the overlapping of municipal and school district boundaries.

After controlling for structural characteristics, neighborhood characteristics, and accessibility to New York City, the model found some evidence that effective property tax rates are capitalized into lower housing values in this county and that the benefits of public service are positively associated with housing values. The results imply that households in residential location choice have significantly responded to differences in the local property taxes and the availability of local public services.