不動產有效稅率對於房地產市場價量影響之探討： 臺灣縣市級資料之應用The Impact of Effective Property Tax Rates on the Housing Market: Evidence from County-Level Data of Taiwan
This study examines the impact of the effective property tax rate on price and transaction volume in the housing market. We utilize the real estate transaction data drawn from the Real Estate Actual Transaction Price Inquiring System of the Ministry of the Interior and the Yearbook of Financial Statistics from 2013 to 2018 to estimate the effective property tax rates for each county and city in each year. Then we estimate the effect of the effective property tax rate on the price and transaction volume of the housing market. The estimation strategies include a fixed-effects model and a quantile regression model. The estimation results show that when the effective property tax rate increases, the price and transaction volume in the housing market will decrease. The results of the quantile regression model further show that the effective property tax rate has a significant impact on the price and transaction volume for different quantiles—the market restraint effect becomes greater among the higher quantiles. The findings of this paper suggest that increasing the effective property tax rate will be effective in cooling down the housing market activities.
Key words: Effective property tax rate, housing price, housing transaction volume, fixed effect model, quantile regression