论文部分内容阅读
本文考察了印第安纳波利斯市中心镇内各税收增额融资区的位置特征和税收增额融资制度对物业价值的影响。在印第安纳波利斯市,税收增额融资区一般都位于衰败地区。但也有一些税收增额融资区位于拥有高家庭人息中位数和低房屋空置率的富裕地区。Hedonic特征价格模型的分析结果表明,税收增额融资项目提高了税收增额融资区内的房屋售价,但税收增额融资项目对周边地区的房屋售价并没有外溢效应。两阶段最小二乘法的结果表明,在1980年到2000年间,税收增额融资项目显著地提高了中心镇内各街区物业价值中位数的增长率。上述两个结果均表明,税收增额融资项目有效地提高了税收增额融资区内的物业价值。由于市政府在1980年就开始实施税收增额融资制度来促进条件很差的商业区的贸易发展,因此,上述结果表明税收增额融资制度成功地提高了居民生活质量,并因此推动了物业的升值。
This paper examines the location characteristics of the incremental-tax-financed areas in downtown Indianapolis and the impact of the incremental tax financing on property value. In Indianapolis, tax-increment financing areas are generally in decay areas. However, there are also some tax-enhanced financing areas located in wealthy areas with high median household and low vacancy rates. The analysis of Hedonic feature price model shows that the project of tax increase financing raises the selling price of houses in tax increment financing area, but the incremental revenue financing project has no spillover effect on the house price in the surrounding areas. The results of the two-stage least-squares method show that from 1980 to 2000, the incremental revenue financing project significantly increased the median growth rate of property values in all blocks in the center town. Both of the above results indicate that the project of incremental tax revenue financing effectively raised the value of property in the tax-enhanced financing zone. As the municipal government began implementing the system of incremental revenue financing in 1980 to promote the trade development of poorly-developed commercial areas, the above results show that the system of incremental tax revenue has succeeded in improving the quality of life of residents and thus promoted the development of the property appreciation.