The Effects of Changes in Capital Gains Taxes on Land Sales: Empirical Evidence from Finland
研究了芬兰临时降低土地销售资本利得税对土地所有者销售决策和财政收入的影响，发现税收激励显著影响土地销售时机和数量，特定临时免税政策可在减少市场扭曲的同时维持税收收入。
We estimate the landowner response to and fiscal effects of a temporary reduction in capital gains taxes imposed on land sales. The underlying normative decision rules are first derived and solved numerically using stochastic dynamic programming. The landowner preferences and willingness to sell land are then estimated in the reduced form using survey data from Finland. The results suggest that the timing of land sales and land sales quantities respond significantly to tax incentives. Certain temporary tax waiver programs could maintain the current tax revenues with fewer trade distorting effects on the land market. <i></i>