The Effect of Tax Increment Financing Districts on Residential Property Prices: An Analysis of the Atlanta Real Estate Market Público

Lewis, Tanner (Spring 2019)

Permanent URL: https://etd.library.emory.edu/concern/etds/h415pb49j?locale=pt-BR
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Abstract

This paper uses a difference-in-difference hedonic regression model to measure the effect of Tax Increment Financing (TIF) designation on residential property sales prices. Based on an analysis of tax parcel sales in Atlanta, Georgia, this paper finds that TIF designation has a significant, positive effect on residential property values. This paper also employs several methods to account for selection bias resulting from non-random designation of TIF districts, including a Heckman selection model and propensity score weighting and matching. These methods point toward an even stronger positive effect of TIF. This paper concludes that, at least in Atlanta, TIF has been an effective tool for local economic development.

Table of Contents

Table of Contents

Introduction 1

Literature Review 5

Data 8

Estimation Strategy 11

Results 18

Outcome Model 18

Heckman Selection Model 20

IPTW Model 21

Propensity Matching Model 22

Conclusion 23

References 26

Appendix 28

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