Tax

Siting, Spillovers, and Segregation: A Re-examination of the Low Income Housing Tax Credit Program

Siting, Spillovers, and Segregation: A Re-examination of the Low Income Housing Tax Credit Program
In Edward Glaeser and John Quigley, Eds. Housinmg Markets and the Economy: Risk, Regulation, Policy; Essays in Honor of Karl Case. Cambridge, Mass: Lincoln Institute for Land Policy, pp. 233-267.

Ingrid Ellen, Katherine O'Regan, Ioan Voicu
01/01/2009

The timing of this volume could not be more opportune. It is based on a 2007 conference to honor the work of Karl "Chip" Case, who is renowned for his scientific contributions to the economics of housing and public policy. The chapters analyze risk in the housing market, the regulation of housing markets by government, and other issues in U.S. housing policy. Chapters investigate derivative markets; the role that home equity insurance can play in reducing risk; the role that the regulation of government-sponsored enterprises has played in extending credit to home purchasers in low-income neighborhoods; and the growth in the market for subprime mortgages. The impact of local zoning regulations on housing prices and new construction is also considered. This is a must read during a time of restructuring our nation’s system of housing finance.

The Neighborhood Effects of Concentrated Foreclosures

The Neighborhood Effects of Concentrated Foreclosures
Journal of Housing Economics, 17(4): 306-319

Ellen, I.G., Schuetz, J. & Been, V.
04/01/2008

As the national mortgage crisis has worsened, an increasing number of communities are facing declining housing prices and high rates of foreclosure. Central to the call for government intervention in this crisis is the claim that foreclosures not only hurt those who are losing their homes to foreclosure, but also harm neighbors by reducing the value of nearby properties and in turn, reducing local governments’ tax bases. The extent to which foreclosures do in fact drive down neighboring property values has become a crucial question for policy-makers. In this paper, we use a unique dataset on property sales and foreclosure filings in New York City from 2000 to 2005 to identify the effects of foreclosure starts on housing prices in the surrounding neighborhood. Regression results suggest that above some threshold, proximity to properties in foreclosure is associated with lower sales prices. The magnitude of the price discount increases with the number of properties in foreclosure, but not in a linear relationship.

Measuring Equity and Adequacy in School Finance

Measuring Equity and Adequacy in School Finance
Handbook of Research in Education Finance and Policy. Edited by Ladd, Helen F. and Ted Fiske. Laurence Erlbaum Associates, New York,

Downes, T. & Stiefel, L.
01/01/2007

The Handbook traces the evolution of the field from its initial focus on school inputs (per pupil expenditures) and the revenue sources (property taxes, state aid programs, etc) used to finance these inputs to a focus on educational outcomes (student achievement) and the larger policies used to achieve them. It shows how the current decision-making context in school finance inevitably interacts with those of governance, accountability, equity, privatization, and other areas of education policy. Because a full understanding of the important contemporary issues requires inputs from a variety of perspectives, the Handbook draws on contributors from a variety of disciplines.

Two Wrongs Do Not Make a Right

Two Wrongs Do Not Make a Right
National Tax Journal, Sep 2006, Vol. 59 Issue 3, p491-508, 18p.

Furman, J.
09/01/2006

This paper analyzes proposals to remedy tax-induced distortions in health care by using new tax incentives and retaining all of the existing distortionary tax incentives. In the process of remedying some distortions, this approach magnifies others--most notably increasing the total tax preference for health care. The paper considers two examples--the Bush administration's FY 2007 budget proposal and a plan by Cogan, Hubbard and Kessler (2005)--and shows that both could result in higher health spending and reduced welfare. Finally, the paper discusses the circumstances in which tax incentives could be warranted to remedy market failures in health insurance.

Choices at a Critical Junction: New York's Mobility and Highway Infrastructure Needs for 2005-2010

Choices at a Critical Junction: New York's Mobility and Highway Infrastructure Needs for 2005-2010
Rudin Center for Transportation Policy and Management, NYU Robert F. Wagner Graduate School of Public Service, March

Schaller, B.
03/01/2005

The report is an analysis of the $17.4 billion capital budget currently proposed for the New York State Department of Transportation for the next five years, and in particular the $5.9 billion proposed for the downstate area. In its review of bridge and roadway trends, the study finds that the improvements in roadways and bridges achieved during the 1990's have begun to erode over the last few years, and the capital budget, as it is currently proposed, would fail to reverse the erosion. The report was written by Bruce Schaller, a Visiting Scholar at NYU Wagner's Rudin Center, who has experience in highway, transit and taxi issues in New York and nationally. Schaller has authored reports on East River bridge tolls, suburban transit access to Lower Manhattan, commuting and the growth of non-work travel in New York City, MTA fare policy and bus rapid transit and numerous other topics.

City Taxes, City Spending: Essays in Honor of Dick Netzer

City Taxes, City Spending: Essays in Honor of Dick Netzer
Northampton, Mass: Edward Elgar Publishing Ltd.,

Schwartz, A.E.
01/01/2004

In a festschrift to Netzer a public finance economist well known for his research on state and local taxation, urban public services, and nonprofit organizations eight chapters apply microeconomics to problems facing urban areas and use statistical analysis to gain insight into practical solutions. The essays look at alternative methods of financing urban government, such as a land value tax and the impact of sales and income taxes on property taxation; at government expenditures, including housing subsidies; and at subsidies to nonprofit arts groups as well as the role of the nonprofit sector in providing K-12 education. Of interest to the fields of public finance, urban economics, and public administration.

The Role of Cities in Providing Housing Assistance: A New York Perspective

The Role of Cities in Providing Housing Assistance: A New York Perspective
In Amy Ellen Schwartz, ed., City Taxes, City Spending: Essays in Honor of Dick Netzer. Northampton, Mass: Edward Elgar Publishing Ltd.,

Ellen, I.G., Schill, M.H., Schwartz, A.E. & Voicu, I.
01/01/2004

In a festschrift to Netzer-a public finance economist well known for his research on state and local taxation, urban public services, and nonprofit organizations-eight chapters apply microeconomics to problems facing urban areas and use statistical analysis to gain insight into practical solutions. The essays look at alternative methods of financing urban government, such as a land value tax and the impact of sales and income taxes on property taxation; at government expenditures, including housing subsidies; and at subsidies to nonprofit arts groups as well as the role of the nonprofit sector in providing K-12 education. Of interest to the fields of public finance, urban economics, and public administration.

Funding Analysis for Long-Term Planning

Funding Analysis for Long-Term Planning
Rudin Center for Transportation Policy & Management, NYU Robert F. Wagner Graduate School of Public Service, July

de Cerreño, A.L.C.
07/01/2003

In existence since 1956, the Highway Trust Fund (HTF) is the source of nearly all federal highway funding and roughly four-fifths of all federal transit funding. The Highway Trust Fund is integral to the long-term transportation planning of all 50 states. However, recent Congressional Budget Office forecasts show that at the current baselines (i.e. spending at currently enacted levels with adjustments for inflation within the context of current tax policies), the Highway Account of the HTF would be depleted by 2006 and the Mass Transit Account would fall to $0 three years later. These projections have been made in the midst of discussions regarding the reauthorization for surface transportation and the looming national needs in transportation that require an estimated average annual investment from all levels of government of between $90.7 billion and $110.9 billion just to maintain the system and between $127.5 billion and $169.5 billion to improve it.

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