A new test for equitable real estate tax assessment

• DOI: 10.1007/bf00216188
• Publication Date: 2004-08-31T14:38:27Z
• Authors: JohnM. Clapp
• Keywords: 0502 economics and business; 05 social sciences

Paglin and Fogarty (1972) proposed a correct conceptual view of equitable property tax assessment, but attempts to find an empirical test of their model have become mired in technical issues. The new empirical test proposed here is based on the notion that the market value of an individual property is essentially unobservable.