The case for property taxes
UC economist’s research cited in Forbes
The debate over property taxes is making headlines in states across the country as housing affordability continues to be a concern for both homeowners and prospective buyers.
In breaking down the pros and cons of property taxes, Forbes cited tax research led by UC Lindner College of Business economics professor David Brasington.
Brasington is the James C. and Caroline Kautz Chair in Political Economy and economics professor at Lindner College of Business. Photo/University of Cincinnati
In the study, Brasington looked at decades of Ohio’s levy renewal data to estimate the impact of property taxes on income as a microcosm of the effect of these local taxes nationwide. He found that cities that fail to renew current expense tax levies have $7,020 lower median family incomes than cities that successfully renew.
Forbes also spoke to Brasington about his research into the link between police spending and home prices.
“The findings at the local level show that preserving existing taxes and increasing local taxes and services all result in better outcomes, size of new houses, home prices,” Brasington told Forbes. “What I haven’t been able to do is look at the limit of what is the maximum for it to deliver positive outcomes.”
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Featured image at top of a desk with a laptop, documents and a small model house. Photo/Adobe Stock
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