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Key findings: - Raising property taxes reallocates homeownership from the elderly to the young - moving CA from 0.8% to the TX 2% cuts 65+ homeownership by 6.2 points while the youngest group gains -A 1% property tax increase cuts house prices 22.6%

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Abdoulaye Ndiaye

@AbdouNdiayeNYU

Aug 10

Property Taxes and Housing Allocation Under Financial Constraints NBER WP #35587 Joshua Coven, Sebastian Golder, Arpit Gupta & Abdoulaye Ndiaye

9:42 AM · Aug 11, 2026

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Abdoulaye Ndiaye

@AbdouNdiayeNYU

Aug 11

Thank you for engaging with our work!

3.1K

The Somewhat legendary Social D Mike

@SDMIKE73

Unless property values go down - which they wont in California - none of these new buyers will be able to afford a new house with this Insane Property Tax Proposal (Prop 13 isn't going anywhere). Increasing Property tax will not lower costs - where did you learn basic

Aaron Layman

@dfwaaronlayman

Aug 11

Just drives home the point that property taxes are a necessary component for equitable wealth distribution in a vibrant, healthy economy. When wealthy property owners are allowed to hoard assets, it creates a trickle-down economy where the wealth doesn't actually trickle down.

1.8K

clay shentrup

@clay_shentrup

the more important issue is efficiency since a large portion is land value and has no deadweight. deal with equity on the subsidy side.

American Snarker

@americansnarker

The elderly paid for their homes, so why should they have to be "reallocated" to the young? Why do the young feel that they are "owed" everything, rather than having to earn it? Because our education system has been overrun by socialists who have never built anything.

OV Rod

@ov_rod

* Florida has no state income tax. Could its economic growth and tax structure make reform more achievable than in other states? * And how does Florida compare with high-property-tax states like Texas over 20–30 years?

AndrewAzlan

@AndrewAzlan

Aug 11

Let me simplify your Abstract for you: Making continued ownership of property for people on fixed income cost prohibitive makes them sell because they can't afford to keep their homes, and if you threaten to tax the hell out of them you can force sales. A key benefit is then

I understand you want to incentivize younger people into home ownership but the downside is forcing grandmas out of their homes due to taxes and making homeownership more expensive for the young families as well

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Patrick Simms

@Patrick68610735

Perhaps karma will visit those displacing the elderly who own their homes and wish to enjoy what they built in their golden years . May their household have like minded children trained by example to park their cruel old asses in a wheelchair in the hot August sun.

darkness

@darknessatnite

It’s a taking from home owners to non-owners and the cut in home prices is entirely consumed by higher taxes, so there is no savings. If you want cheaper homes just… increase supply.

ARMY

@ARMYNotPlayin

21h

Take that, grandma! It's for the children!!

The media could not be played.

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OV Rod

@ov_rod

* Eliminating homestead property taxes could leave roughly an $18.5B annual local-revenue gap. What spending or revenue reforms could replace it without creating another tax on families?

OV Rod

@ov_rod

Questions worth asking about eliminating property taxes on primary homes in Florida: * $5K/year = $150K over 30 years. Invested at 7% = ~$472K. How much family wealth are we sacrificing?

Chuck Darrow

@acd_4

22h

The data sets from California to Texas are non comparable in that California has prop 13 which locks in the valuation, while Texas does not.

@WizardofWaz7

Aug 11

it’s almost like the red state push to cut property taxes is a direct appeasement of older, GOP voters and old GOP elected officials who are trying to hoard their wealth

The funny thing is CA doesn’t even need to raise 0.8% to 2.0%. They just need to get rid of prop 13 which artificially keeps tax appraisals materially lower than the actual “Zillow value” of the home in a lot of cases.

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Dave Crocker

@Leftdolatry

I hate central planners. They sit in their ivory towers and scheme how they can “reallocate“ other people’s life’s work. To them, other people’s sweat is merely “hoarding.“

JeffT

@JeffTittor

15h

Lol ok. Raising property taxes hurts the young too fuckwit. Your govt needs to learn to do with less.

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Brad Brown

@rbradbrown

Anyone with an ounce of critical thinking skills should reject out of hand and paper that claims a 1% increase in property taxes reduces home values by 22%. Any relationship you see is homeowners challenging rising value assessments — which most homeowners know is an annual game

Founding Ideals

@founding_ideals

27m

A 1% property tax increase increases the cost of the house but the money flows to government not to the owner. It doesn't make home ownership cheaper it just changes where the money goes. See long island where small home mortgage payments are routinely WAY less than the property

We're All Doing Fine

@Over9000ft

11h

TX city rates are closer to 3%. CA and WA are cautionary tales about the scumbags you'll have in your state if you have property taxes that are too low.

Michael Jester

@MichaelJester

Aug 11

Why on earth would you want to remove home ownership from anyone, let alone the “elderly”? Really whats your objective here?

GTFO higher taxes reallocates ownership from the people to the state. The elderly just suffer disproportionately because they are more likely to be house rich and cash poor.

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christopher murphy

@christo85766536

JFC dude, what happend to you ? "Let's kick grandma and grandpa out of their homes by taxing them to death" is batshit crazy.

@realEshanC

18h

Even if home prices drop, they won’t stay lower forever. They could shoot back up quickly if lower prices drive high demand. Higher property taxes would also put a huge burden on young homebuyers. You can pay off a home, but you can’t escape high taxes.

Youre smoking crack if you think a 1% property tax increase cuts home value by 22.6%. Are you nuts!? Hahaha.

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@tdaveniii

18h

California is more like 1.1% to 1.2% depending on the county and city. I'm in favor of property taxes to pay for services, not for social engineering.

Colin Duffy

@itcamefromthed

Aug 11

If you want to avoid kicking grandma out of her house because she can't afford to pay (say for electoral purposes) then

@DanNeidle

suggests letting the elderly put off the bill until they die, then the estate pays as a lump sum.

If you typed “ reallocates homeownership” and didn’t cringe, you are part of the problem.

Lex Rex

@Geophph1122

This is literally retarded. If you are near freezing, dose yourself with gasoline and light your self on fire you will gain momentary relief from the cold.....

Mp Collins

@mccollins7969

13h

Meanwhile in my home state we’re driving young people out because property tax has so damn prohibitive.

Crushed Between

@CrushedBetween

Aug 11

You get in at the lower price and inherit the tax bill that never stops. My escrow climbs every year.

So you want to further punish people living on fixed income - social security - with higher property taxes to funnel more money into waste, fraud and abuse by local governments based on economists living in ivory tower who told us that Obamacare would cut healthcare premiums by