Download PDF The Homevoter Hypothesis: How Home Values Influence Local Government Taxation, School Finance, and Land-Use Policies Paperback – February 15, 2005

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a lu e s I n f lu e n c e L o c a l G o v e r n m
e n t T a x a t io n , S c h o o l F in a n c e ,
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is H o w H o m e V a lu e s I n f lu e n c e L
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1 5 , 2 0 0 5 f u ll f r e e a c c e s , d o w n
lo a d f r e e e b o o k T h e H o m e v o t e r
H y p o t h e s is H o w H o m e V a lu e s I n
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a t io n , S c h o o l F in a n c e , a n d L a n
d - U s e P o lic ie s P a p e r b a c k â F
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h e s is H o w H o m e V a lu e s I n f lu e n
c e L o c a l G o v e r n m e n t T a x a t io n
, S c h o o l F in a n c e , a n d L a n d - U s
e P o lic ie s P a p e r b a c k â F e b r u
a r y 1 5 , 2 0 0 5 , D O C T h e H o m e v o t e
r H y p o t h e s is H o w H o m e V a lu e s I
n f lu e n c e L o c a l G o v e r n m e n t T a
x a t io n , S c h o o l F in a n c e , a n d L a
n d - U s e P o lic ie s P a p e r b a c k â
F e b r u a r y 1 5 , 2 0 0 5
2
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The Homevoter Hypothesis How Home Values
Influence Local Government Taxation, School
Finance, and Land-Use Policies Paperback â
February 15, 2005
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Homevoter Hypothesis How Home Values Influence
Local Government Taxation, School Finance, and
Land-Use Policies Paperback â February 15, 2005
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Description
Just as investors want the companies they hold
equity in to do well, homeowners have a
financial interest in the success of their
communities. If neighborhood schools are good, if
property taxes and crime rates are low, then the
value of the homeownerâs principal assetâhis
homeâwill rise. Thus, as William Fischel shows,
homeowners become watchful citizens of local
government, not merely to improve their quality
of life, but also to counteract the risk to their
largest asset, a risk that cannot be diversified.
Meanwhile, their vigilance promotes a municipal
governance that provides services
more efficiently than do the state or national
government.Fischel has coined the portmanteau
word âœhomevoterâ? to crystallize the
connection between homeownership and political
involvement. The link neatly explains several
vexing puzzles, such as why displacement of local
taxation by state funds reduces school quality
and why local governments are more likely to be
efficient providers of environmental amenities.
The Homevoter Hypothesis thereby makes a strong
case for decentralization of the fiscal and
regulatory functions of government.
5
The Homevoter Hypothesis How Home Values
Influence Local Government Taxation, School
Finance, and Land- Use Policies Paperback â
February 15, 2005