TY  - RPRT
A1  - Borck, Rainald
A1  - Oshiro, Jun
A1  - Satō, Yasuhiro
T1  - Property tax competition
BT  - A quantitative assessment
T2  - CEPA Discussion Papers
N2  - We develop a model of property taxation and characterize equilibria under three alternative taxa-tion regimes often used in the public finance literature: decentralized taxation, centralized taxation, and “rent seeking” regimes. We show that decentralized taxation results in inefficiently high tax rates, whereas centralized taxation yields a common optimal tax rate, and tax rates in the rent-seeking regime can be either inefficiently high or low. We quantify the effects of switching from the observed tax system to the three regimes for Japan and Germany. The decentralized or rent-seeking regime best describes the Japanese tax system, whereas the centralized regime does so for Germany. We also quantify the welfare effects of regime changes.
T3  - CEPA Discussion Papers - 52 
KW  - property taxes
KW  - tax competition
KW  - efficiency
Y1  - 2022
U6  - http://nbn-resolving.de/urn/resolver.pl?urn:nbn:de:kobv:517-opus4-562228
SN  - 2628-653X
ER  -