Land Values, Property Rights, and Home Ownership
This paper evaluates the effect of property rights on property values in Peru. Previous research on squatting has shed light on how the provision of formal land titles affects a number of socioeconomic outcomes and a subset of this research has provided estimates on how the provision of formal titles affects property values. However, the phenomenon of squatting encompasses a variety of informal property rights distinct from the possession of a legal title. Using an exceptionally rich household data set including geo-location at the community level we study the effects of both formal and informal property rights on property values. Having a title increases property values by almost 7 percent and squatting on the land by invasion reduces values by about 6 percent. Using these estimates, we determine the potential losses of property tax revenue and are able to study the issue of squatting in the context of public finance.
Main Authors: | Hawley, Zackary, Miranda, Juan José, Sawyer, W. Charles |
---|---|
Format: | Journal Article biblioteca |
Published: |
Elsevier
2017-12-30
|
Subjects: | PROPERTY RIGHTS, SQUATTING, PROPERTY TAX, TAXATION, HEDONIC MODEL, HEDONIC PRICE FUNCTION, LAND VALUES, LAND TITLE, LAND USE, |
Online Access: | http://hdl.handle.net/10986/29229 |
Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
Similar Items
-
Tenure Security Premium in Informal Housing Markets : A Spatial Hedonic Analysis
by: Nakamura, Shohei
Published: (2017-01) -
Using Satellite Imagery to Create Tax Maps and Enhance Local Revenue Collection
by: Ali, Daniel Ayalew, et al.
Published: (2020) -
Using Satellite Imagery to Revolutionize Creation of Tax Maps and Local Revenue Collection
by: Wild, Michael, et al.
Published: (2018-05) -
Greener Is Not Always Pricier
by: Bello, Ridwan Bolaji, et al.
Published: (2023-08-30) -
Determinants of market value for fresh yam (Dioscorea species) tubers in two consumption centers in Togo
by: Amegbeto, N.K., et al.
Published: (2007)