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Effect of Socio-Economic Stratification on House Value in Bogotá

This paper investigates the impact of urban fiscal policies on housing value. We use a focalization system in Bogotá where certain subsidies and taxes are targeted based on a classification of houses according to external conditions and urban surroundings (socioeconomic stratification). We use a regression discontinuity design, and a rich dataset on cadastre appraisal and housing characteristics, to assess whether a higher tax burden affects the property value. Our results suggest that the usual (negative) capitalization effect is compensated by other channels. We show evidence that as stratum increases, investment on the house maintenance improve.

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Subject

Ciudades | Economía | Finanzas públicas | Impuestos | Investigación socioeconómica | Políticas públicas | Vivienda

País / Región

Colombia

URI

https://scioteca.caf.com/handle/123456789/994

Date

2016-12-24

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6.1 Documentos de trabajo en investigación socioeconómica

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CC-BY-NC
Except where otherwised noted, this item's license is described as CC-BY-NC
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Gallego, Montoya & Sepúlveda (2016).pdf (1.24 MB)

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CAF

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