Optimal tax theory and the taxation of housing in the US and the UK
Optimal tax theory and the taxation of housing in the US and the UK
复制标题
最优税收理论和美国和英国的住房税
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发表时间：
2012
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通讯作者：
A. Evans
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文献类型：
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作者：
A. Evans
首先，我们调查了最优税收理论在住房方面的应用。这项工作表明，对业主自用住房征税不足扭曲了投资，从而鼓励业主自用住房过度投资。对美国经济的模拟表明，这在那里是正确的。但是，理论工作不考虑土地，模拟不考虑所得税以外的税收。这些排除对美国和英国经济很重要。在美国，房产税相对较高。我们认为，排除财产税是错误的，所以，当考虑到财产税，业主自用住房在美国并没有被低估。在英国，财产税相对较低，但由于限制土地用于发展的政策，土地成本在40年来一直在真实的增长。现在的房价比其他地方都高。实际上，第一次购房者支付的隐性税减少了住房投资。如果把土地考虑在内，英国也不鼓励对住房的过度投资。
First, we survey recent research in the application of optimal tax theory to housing. This work suggests that the under-taxation of housing for owner occupation distorts investment so that owner occupiers are encouraged to over-invest in housing. Simulations of the US economy suggest that this is true there. But, the theoretical work excludes consideration of land and the simulations exclude consideration of taxes other than income taxes. These exclusions are important for the US and UK economies. In the US, the property tax is relatively high. We argue that excluding the property tax is wrong, so that, when the property tax is taken into account, owner occupied housing is not undertaxed in the US. In the UK, property taxes are relatively low but the cost of land has been increasing in real terms for forty years as a result of a policy of constraining land for development. The price of land for housing is now higher than elsewhere. Effectively, an implicit tax is paid by first time buyers which has reduced housing investment. When land is taken into account over-investment in housing is not encouraged in the UK either.