Written from a practical standpoint, this new edition of the Stamp Duty Land Tax Handbook details how the updated legislation works in common practice. The book's examples and case studies will be ...highly useful to surveyors, valuers and anyone needs to be kept up to date with the application of tax duty on Land. Unlike most other books in this area, the Handbook is based on practical experience of the work of surveyors applying the latest legislation in making valuations. The authors explain the potential pitfalls and use examples of calculations of the amounts on which tax is payable. Complex areas like administration and enforcement are clarified and explained. The Handbook will help surveyors and property professionals provide crucial support to their invididual and corporate clients.
ABSTRACT
Political identity and partisanship are salient features of today's society. Using deeds records and voter rolls, we show that current residents are more likely to sell their homes when ...opposite‐party neighbors move in nearby than when unaffiliated or same‐party neighbors do. This is especially true when the new neighbors are politically active, consistent with an animosity between parties mechanism. We conclude that affective polarization is not limited to purely political settings and affects one of the household's most important financial decisions, their home transactions.
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3.
Forced Sales and House Prices Campbell, John Y.; Giglio, Stefano; Pathak, Parag
The American economic review,
08/2011, Volume:
101, Issue:
5
Journal Article
Peer reviewed
Open access
This paper uses data on all house transactions in Massachusetts over the last 20 years to show that houses sold after foreclosure, or close in time to the death or bankruptcy of a seller, are sold at ...lower prices than other houses. Foreclosure discounts are on average at 27 percent of the value of a house. Moreover, foreclosures that take place within small local geographies of a house lower the price at which it is sold. Our preferred estimate is that a foreclosure at a distance of 0.05 miles lowers the price of a house by about 1 percent. JEL: D14, R31 PUBLICATION ABSTRACT
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This paper investigates whether energy performance ratings, as measured by mandatory Energy Performance Certificates (EPCs), are reflected in the sale prices of residential properties. This is the ...first large-scale empirical study of this topic in England involving 333,095 dwellings sold at least twice in the period from 1995 to 2012. Applying hedonic regression and an augmented repeat sales regression, we find a positive relationship between the energy efficiency rating of a dwelling and the transaction price per square metre. The price effects of superior energy performance tend to be higher for terraced dwellings and flats compared to detached and semi-detached dwellings. The evidence is less clear-cut for rates of house price growth but remains supportive of a positive association. Overall, the results of this study suggest that energy efficiency labels have a measurable and significant impact on house prices in England.
•We apply hedonic model to test effect of energy efficiency rating on house prices.•We use a sample of English dwellings with Energy Performance Certificate (EPC) data.•Dwellings in EPC bands A and B sell for a 5% premium, all else equal; for C, it is 1.8%.•The effect is about £8900 on an average house price (£177,824 as of Aug. 2014).•There is considerable variation in these effects by region and property types.
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Housing markets play a crucial role in economies and the collapse of a real-estate bubble usually destabilizes the financial system and causes economic recessions. We investigate the systemic risk ...and spatiotemporal dynamics of the US housing market (1975-2011) at the state level based on the Random Matrix Theory (RMT). We identify richer economic information in the largest eigenvalues deviating from RMT predictions for the housing market than for stock markets and find that the component signs of the eigenvectors contain either geographical information or the extent of differences in house price growth rates or both. By looking at the evolution of different quantities such as eigenvalues and eigenvectors, we find that the US housing market experienced six different regimes, which is consistent with the evolution of state clusters identified by the box clustering algorithm and the consensus clustering algorithm on the partial correlation matrices. We find that dramatic increases in the systemic risk are usually accompanied by regime shifts, which provide a means of early detection of housing bubbles.
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Firebirds Wood Fired Grill of Charlotte and Tupelo Honey Southern Kitchen & Bar of Asheville. First Community Bank First Community Bank of Batesville is ready to move into Fayetteville after paying ...$1.7 million for a 3,747-SF bank building on Wedington Drive. First Community Bank said it will start renovations before the end of the year. The seller was Farmers & Merchants Bank of Stuttgart, led by market President Matt Mason.
In this paper, we respectively evaluate the effects of home-purchase restrictions and the trial property taxes on housing prices in China using a counterfactual analysis. We modify the method of ...Hsiao, Ching and Wan (2012) by using the leave-nv-out cross-validation criterion for the optimal choice of the control cities. Some Monte Carlo simulations illustrate the better performance of our method. We then construct the counterfactual growth rates of housing prices in Beijing, Shanghai and Chongqing using the selected control cities. We find that: (i) purchase restrictions reduced the annual growth rate of housing prices in Beijing by 7.69 percent; (ii) the trial property tax of Chongqing reduced the annual growth rate of housing prices by 2.52 percent; (iii) the trial property tax of Shanghai had no significant effect on housing prices.
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8.
TBD Godellas, Constantine
The American journal of surgery,
March 2023, 2023-03-00, 20230301, Volume:
225, Issue:
3
Journal Article
Peer reviewed
•MSA Presidential Speech.
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By analyzing a panel on the political turnovers of 4390 county leaders in China during 1999–2008, we find that the revenue windfalls accrued to these officials from land sales have undermined the ...effectiveness of the promotion system for government officials. Instead of rewarding efforts made to boost GDP growth, promotion is positively correlated with signaling efforts, and with corruption. The robust positive relationship between land revenue windfalls and political turnover, or specifically promotion, suggests that those who are politically connected to their superiors and those beyond the prime age for promotion are the primary beneficiaries. The case for corruption is substantiated by the evidence inferred from anti-corruption crackdowns, which reveals that the additional effect of land revenue on political turnover and size of bureaucracy (a proxy for corruption) decreases significantly in crackdowns but that land revenue has no effect on city construction expenditure (a proxy for signaling).
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ABSTRACT
Recent local price growth explains differences in search behavior across prospective homebuyers. Those experiencing higher growth in their postcode of residence search more broadly across ...locations and house characteristics, without changing attention devoted to individual sales listings, and have shorter search duration. Effects are stronger for homeowners, in particular those living in less wealthy areas and looking for a new primary residence. We use reduced‐form analysis and a quantitative equilibrium model to show that the expansion of search breadth translates into widespread spillovers onto house sales prices and inventories of listings across postcodes within a metropolitan area.
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