Land Values, Property Rights, and Home Ownership : Implications for Property Taxation in Peru

[摘要] This paper evaluates the effect of property rights on property values in Peru. Previous research on squatting has shed light on how the provision of formal land titles affects a number of socioeconomic outcomes and a subset of this research has provided estimates on how the provision of formal titles affects property values. However, the phenomenon of squatting encompasses a variety of informal property rights distinct from the possession of a legal title. Using an exceptionally rich household data set including geo-location at the community level we study the effects of both formal and informal property rights on property values. Having a title increases property values by almost 7 percent and squatting on the land by invasion reduces values by about 6 percent. Using these estimates, we determine the potential losses of property tax revenue and are able to study the issue of squatting in the context of public finance.

[发布日期] 2017-12-30 [发布机构] Elsevier

[学科分类] 社会科学、人文和艺术（综合）

[关键词] PROPERTY RIGHTS;SQUATTING;PROPERTY TAX;TAXATION;HEDONIC MODEL