Vertical Equity in the Taxation of Single Family Homes

Vertical equity in ad valorem real property taxation is the concept that all properties within a taxing jurisdiction are assessed in equal proportion to their fair market value. This study examines the assessment of single family homes in Bellingham, Washington, utilizing a database of 1,118 home sales in the southern half of Bellingham that sold during the time period of January, 1990 through June, 1994. The results of several empirical tests suggest the presence of regressive vertical inequity. It appears that higher market value homes are assessed at a lower proportion of their value (sales price) than less expensive homes. These results suggest that property taxation at the local level magnifies the regessivity of Washington State's already highly regressive state tax system. Why does this apparent regressive vertical inequity exist? The authors offer several possibilities including the propensity of wealthy homeowners to challenge property tax assessments, the difficulty of valuing the amenities inside an upper-end home, the heterogeneity of the upper-end home market coupled with a small number of transactions, and the lack of ample staff and other resources at the County Assessor's office.

An Examination of Vertical Equity Over Two Reassessment Cycles

This article examines vertical equity in the assessment of single-family homes over two assessment cycles in Bellingham, Washington. The two assessment periods, which are four years apart, followed two differing property appreciation periods. The 1992 reassessment followed an explosion in home values, while the 1996 reassessment came after more moderate price appreciation. The assessed value/ market value ratio is the basic tool of this study with actual sales prices assumed to be market value. Utilizing a database of 721 home sales from January, 1990 to December, 1992, this study’s empirical analysis suggests regressive vertical inequity in 1992. This situation appears to have changed in 1996. Results from a second database consisting of 835 home sales from January, 1994 through December, 1996, suggest a substantial reduction in vertical inequity. Overall, it appears that the County Assessor’s office addressed the previous problem with positive results for the average property taxpayer of Whatcom County.

Canadian / U.S. Exchange Rates and Nonresident Investors: Their Influence on Residential Property Values

Factors external to a home’s characteristics may influence the sales price. This analysis focuses on Bellingham, Washington, because of several influences including the Canadian economy and nonresidents. First estimated is a constant-quality Bellingham housing price index, which is used as the dependent variable in a reduced-form model of market price to estimate the impact of the exchange rate. The analysis (1984-94) suggests that a 10% rise in the exchange rate leads to a 7.7% rise in Bellingham home prices. Additionally, in 1990, non-county buyers paid 4% to 6% more than county residents and non-county sellers received 6% to 8% less.

Land Of Hope And Glory

https://digitalcommons.library.umaine.edu/mmb-vp/6041/thumbnail.jp

Two- and three-dimensional viscous computations of a hypersonic inlet flow

The three-dimensional parabolized Navier-Stokes code has been used to investigate the flow through a Mach 7.4 inlet. A two-dimensional parametric study of grid resolution, turbulence modeling and effect of gamma has been done and compared with experimental results. The results show that mesh resolution of the shock waves, real gas effects and turbulence length scaling are very important to get accurate results for hypersonic inlet flows. In addition a three-dimensional calculation of the Mach 7.4 inlet has been done on a straight sideplate configuration. The results show that the glancing shock/boundary layer interaction phenomena causes significant three-dimensional flow in the inlet

The Influence of Canadian Investment on U.S. Residential Property Values

This study is an examination of the impact of foreign investors on an American residential real estate market. Point Roberts, Washington, a real estate market that is dominated by Canadians, is the focus of the analysis. Utilizing a ten-year database of home sales, the empirical analysis suggests that the Canadian/U.S. dollar exchange rate and market conditions in nearby Vancouver, British Columbia, strongly influence Point Roberts residential property price levels. A rising Canadian dollar seems to motivate increased demand for Point Roberts property by Canadian investors, for example. The sensitivity of real estate prices to exchange-rate changes appears to be a three-to-six-month lagged function. In general, it appears that a higher Canadian dollar will increase the Canadian demand for Point Roberts real estate which, in turn, leads to higher transaction prices. In addition, transaction prices in Point Roberts are slightly more volatile than are prices in the Vancouver market.

Evaluation of Charge Storage and Decay in Spacecraft Insulators

Two reports discuss methods for evaluating the magnitude of electrostatic charging that occurs in spacecraft dielectric materials (in particular, polyimides) during prolonged exposure to radiation in outer space. The reports describe experiments on the electrical resistivities and charge-storage properties of polyimide specimens in a dark, evacuated environment, both before and after 5-megarad exposures to rays from cobalt-60. The experiments were designed to measure these properties not under standard conditions prescribed for testing dielectrics in air but, rather, under conditions approximating those in the intended spacecraft applications. The results of the experiments showed that the electrical resistivities of the insulations as determined under these conditions are greater, by a factor of roughly a thousand, than those determined under the standard conditions and that the gamma irradiation reduced resistivities marginally

A study of farm investment in an area in northeastern Kansas

Typescript, etc.Digitized by Kansas State University Librarie