Are the home values and property tax burdens of permanent homeowners affected by growth in housing rentals and second homes: Evidence based on big data from Florida
研究佛罗里达州城市中租赁住房和度假屋比例上升如何降低永久房主的房屋价值、增加其房产税负担和公共服务价格，基于数十万至数百万条住房数据。
Abstract Homeowners who make their homes their primary residence have resisted the entry of rentals into their neighborhoods and cities. Possible reasons underlying this resistance are that rentals reduce the property values, increase the property tax burdens, and raise the price of public services for these homeowners. We relate the market values of single‐family homes occupied by permanent homeowners, the effective property tax rate of these homeowners, and the tax price they pay for public services to shifts in their city's housing units toward a variety of different types of rentals and second homes. Our analysis is based on large panels of Florida homes containing hundreds of thousands and millions of observations. Our results show that increases in the share of a city's housing units used as rentals or second homes reduce the home values, increase the property tax burdens, and raise the public services prices of homeowners who permanently reside in single‐family homes. Impacts vary in magnitude among single‐family, condominium, and mobile homes used as rentals and second homes. Estimated impacts are the strongest for share increases in single‐family rentals and second homes.