房地产税？住房市场和移民对州和地方税扣除限制的反应

IF 1.7 4区经济学 Q2 ECONOMICS

Contemporary Economic Policy Pub Date : 2024-07-25 DOI:10.1111/coep.12659

Lawrence M. Kessler, Donald Bruce

{"title":"房地产税？住房市场和移民对州和地方税扣除限制的反应","authors":"Lawrence M. Kessler, Donald Bruce","doi":"10.1111/coep.12659","DOIUrl":null,"url":null,"abstract":"<p>The 2017 Tax Cuts and Jobs Act placed a $10,000 limit on the deductibility of state and local taxes (SALT) for federal tax purposes. This policy change likely increased the cost of home ownership for some households in high-tax areas. We examine whether these costs were capitalized into the local housing market through slower growth in housing prices. Motivated by the argument that the SALT cap caused some taxpayers to relocate, we also examine whether the cap influenced interstate migration patterns. The cap led to a sizable reduction in home price growth but had no discernable impact on state-to-state migration.</p>","PeriodicalId":47364,"journal":{"name":"Contemporary Economic Policy","volume":"42 4","pages":"683-704"},"PeriodicalIF":1.7000,"publicationDate":"2024-07-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"A SALT on real estate? Housing market and migration responses to the limit on the state and local tax deduction\",\"authors\":\"Lawrence M. Kessler, Donald Bruce\",\"doi\":\"10.1111/coep.12659\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<p>The 2017 Tax Cuts and Jobs Act placed a $10,000 limit on the deductibility of state and local taxes (SALT) for federal tax purposes. This policy change likely increased the cost of home ownership for some households in high-tax areas. We examine whether these costs were capitalized into the local housing market through slower growth in housing prices. Motivated by the argument that the SALT cap caused some taxpayers to relocate, we also examine whether the cap influenced interstate migration patterns. The cap led to a sizable reduction in home price growth but had no discernable impact on state-to-state migration.</p>\",\"PeriodicalId\":47364,\"journal\":{\"name\":\"Contemporary Economic Policy\",\"volume\":\"42 4\",\"pages\":\"683-704\"},\"PeriodicalIF\":1.7000,\"publicationDate\":\"2024-07-25\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Contemporary Economic Policy\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://onlinelibrary.wiley.com/doi/10.1111/coep.12659\",\"RegionNum\":4,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q2\",\"JCRName\":\"ECONOMICS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Contemporary Economic Policy","FirstCategoryId":"96","ListUrlMain":"https://onlinelibrary.wiley.com/doi/10.1111/coep.12659","RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"ECONOMICS","Score":null,"Total":0}

引用次数: 0

摘要

2017 年《减税与就业法案》对州和地方税（SALT）在联邦税中的扣除额设置了 10,000 美元的限制。这一政策变化可能增加了高税率地区部分家庭的购房成本。我们研究了这些成本是否通过房价增长放缓而被资本化到当地住房市场中。有观点认为，个人所得税上限会导致一些纳税人搬迁，受此影响，我们还研究了上限是否影响了州际移民模式。上限导致房价增长大幅下降，但对州与州之间的移民却没有明显影响。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

查看原文本刊更多论文

A SALT on real estate? Housing market and migration responses to the limit on the state and local tax deduction

The 2017 Tax Cuts and Jobs Act placed a $10,000 limit on the deductibility of state and local taxes (SALT) for federal tax purposes. This policy change likely increased the cost of home ownership for some households in high-tax areas. We examine whether these costs were capitalized into the local housing market through slower growth in housing prices. Motivated by the argument that the SALT cap caused some taxpayers to relocate, we also examine whether the cap influenced interstate migration patterns. The cap led to a sizable reduction in home price growth but had no discernable impact on state-to-state migration.

求助全文

通过发布文献求助，成功后即可免费获取论文全文。去求助

来源期刊

Contemporary Economic Policy Multiple-

CiteScore

3.10

自引率

6.70%

发文量

期刊介绍： Contemporary Economic Policy publishes scholarly economic research and analysis on issues of vital concern to business, government, and other decision makers. Leading western scholars, including three Nobel laureates, are among CEP"s authors. The objectives are to communicate results of high quality economic analysis to policymakers, focus high quality research and analysis on current policy issues of widespread concern, increase knowledge among economists of features of the economy key to understanding the impact of policy, and to advance methods of policy analysis.