JUE

都市・地域経済学のトップジャーナルであるJUEに論文を掲載していただきました．

Rainald Borck, Jun Oshiro, Yasuhiro Sato,

Property tax competition: A quantitative assessment,

Journal of Urban Economics,

Volume 153, 2026, 103861, 

ISSN 0094-1190,

https://doi.org/10.1016/j.jue.2026.103861.

(https://www.sciencedirect.com/science/article/pii/S009411902600032X)

Abstract: We investigate which of four alternative taxation regimes often used in the public finance literature best approximates actual property taxation in Japan and Germany. To that end, we develop a model of property taxation and characterize equilibria under four alternative regimes: the Benthamite, rent-seeking, land-rent maximization, and tax harmonization regimes. We characterize possible sources of fiscal externalities in each regime. We then quantify the effects of switching from the observed tax system to each of the four regimes in Japan and Germany. We find that the Benthamite or rent-seeking regime best approximates the Japanese system, whereas the tax harmonization regime does so for Germany. We also quantify the welfare effects of switching to the different regimes.

Keywords: Property taxes; Tax competition; Efficiency