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Buildings 2017, 7(4), 108; doi:10.3390/buildings7040108

Where in Connecticut Is the Best Location for a Split Tax? An Analysis of Land Assessment Equity in Several Cities

1
Center for Real Estate and Urban Economic Studies, School of Business, University of Connecticut, 2100 Hillside Road, Unit 1041-RE, Storrs, CT 06269, USA
2
Fedele Group LLC, Londonderry, NH 03053, USA
*
Author to whom correspondence should be addressed.
Received: 26 July 2017 / Revised: 25 September 2017 / Accepted: 26 September 2017 / Published: 28 November 2017
(This article belongs to the Special Issue Real Estate Economics, Management and Investments)
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Abstract

The ability of local assessors to accurately estimate land values separately from structure values is important when considering a split tax. When the value of land is estimated with less variation, there is greater equity. We examine land ratios in New London, New Haven, and Hartford Connecticut and sub-groupings within these cities for 2006 to 2010. Overall, the land ratios coefficients of dispersion (COD), a measure of horizontal equity, are too large for an equitable split tax. We also look at land assessment equity among sub-groupings of properties near parks, highway exits, airports, Yale University (for New Haven), residential versus commercial properties, land with old versus new properties, and large versus small parcels and ‘expensive’ versus ‘less expensive’ properties (by examining price per square foot). Commercial properties near Hartford’s Brainard Airport are the best candidates for an equitable split tax. We also find that more frequent revaluations are necessary for an equitable split tax. View Full-Text
Keywords: land value tax; property tax; assessment equity land value tax; property tax; assessment equity
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This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).

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Cohen, J.P.; Fedele, M.J. Where in Connecticut Is the Best Location for a Split Tax? An Analysis of Land Assessment Equity in Several Cities. Buildings 2017, 7, 108.

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