000			01643nam a22002057a 4500
003			OSt
005			20230627154754.0
008			210629b |||||||| |||| 00| 0 eng d
100			_9475 _aDavidoff, Ian
245			_aHow do stamp duties affect the housing market?
260			_bIZA, _cJune 2013.
300			_a29 pages
500			_aKEYWORDS: tax incidence, land sales taxation, residential mobility
520			_aLand transfer taxes are a substantial portion of the cost of moving house in many developed countries. Since stamp duties are endogenous with respect to the house price, we create an instrumental variable that is the stamp duty on a property, given that postcode’s starting house price and the national house price trend. In a specification with postcode and year fixed effects, this instrument effectively captures policy changes and nonlinearities in the stamp duty schedule. We find that the impact of an increase in the tax rate is to lower house prices, suggesting that the economic incidence of the tax falls on the seller. We also observe impacts of stamp duty on housing turnover. A 10 per cent increase in stamp duty lowers turnover by 3 per cent in the first year, and by 6 per cent if sustained over a 3 year period.
524			_aSuggested Citation: Davidoff, Ian and Leigh, Andrew, How Do Stamp Duties Affect the Housing Market?. IZA Discussion Paper No. 7463, Available at SSRN: https://ssrn.com/abstract=2287073
650		0	_aTaxation _zAustralia _9513
700			_9476 _aLeigh, Andrew
856			_uhttps://papers.ssrn.com/sol3/papers.cfm?abstract_id=2287073 _yView item on publishers website
942			_2ddc _cA
999			_c492 _d492