第六章 政策意涵與未來研究方向
第二節 未來研究方向
國
立 政 治 大 學
‧
N a tio na
l C h engchi U ni ve rs it y
82
價會愈低，而愈高房價房屋的房屋總價以及每坪房屋單價會愈高。在財產稅資本 化的敏感性分析方面，也得到當每坪地價稅支出、房屋稅支出或是財產稅支出愈 高，房屋總價或每坪房價將會愈高。
對於上述的結論，亦可以提供給台北市政府相關單位政策制定上建議。本文 研究發現台北市自用住宅的財產稅稅賦負擔太輕，尤其是地價稅，因此無法透過 提高財產稅的方式來抑制房價。此外，根據分量迴歸的結果發現，房屋稅支出愈 高，低房價的房屋總價會降低，這結果表示在低房價房屋稅的租稅負擔是高於最 適水準；然而高房價的房屋總價會因房屋稅支出愈高反而愈高，這結果表示在高 房價房屋稅的租稅負擔是低於最適水準。因此透過這些發現，建議台北市政府相 關單位應將高房價的房屋稅租稅負擔提高超過最適水準，藉由此才能有效的抑制 房價的上漲。
第二節 未來研究方向
Rosen (1974) 發展特徵方程式估計法來估計具有多種特性的商品之後，除了 產業界以及學術界大多以此法來分析影響房價的因素，許多的文獻利用特徵方程 式估計法來分析房屋價格，本研究利用分量迴歸模型並控制房屋特徵、房屋類型、
座落地區、屋齡等，分析台北市 2002 年至 2006 年「自用住宅」的個別資料，探 討台北市自用住宅財產稅的支出對於房屋價格的影響，而為了更可以控制更詳盡 的地區特性，將台北市 12 個行政區的地區虛擬變數改採用五碼的郵遞區號，五 碼郵遞區號是將地區細分到地址中「號」的部份，利用此法更可以將不動產之間 鄰接的特性、公共設施狀況、學區等做詳細的區分以及控制。
本研究利用 King (1977) 提出使用財產稅的支出替代財產稅有效稅率，解決
‧ 國
立 政 治 大 學
‧
N a tio na
l C h engchi U ni ve rs it y
83
模型設定錯誤問題的建議。雖然地價稅稅基土地公告地價及房屋稅稅基房屋評定 現值的評價上皆遠低於其市場價值，但是土地公告地價及房屋評定現值的評價過 程中也會將市場價值列入考量，為了避免可能會產生的內生性問題，未來研究方 面，可以先做內生性檢定，檢查變數之間有無內生性的問題，再用工具變數 (Instrumental Variables) 及兩階段最小平方法處理內生性問題。
在分量迴歸的模型設定中，為了避免衡量公共設施產生誤差，並沒有將公共 設施加入模型討論。在未來研究方面，可以利用 GIS (Geographic Information System) 地理資訊系統將會影響到不動產價格的區域性特性列入考慮，例如鄰近 學校數量、鄰近市場 (傳統市場、大型量販店以及超級市場等) 數量、鄰近公園 數量、鄰近主要幹道、鄰近醫療院所數量、鄰近捷運站數量以及人口結構等，利 用 GIS 技術將影響不動產價格的計量模型的建構更加完善。
估算財產稅有效稅率方面，在估算地價稅及房屋稅稅基過程中還是會有產生 誤差的現象，未來研究若可以取得民眾繳納房屋稅以及地價稅的實際資料，如此 不論在計算財產稅有效稅率，或是利用此實際資料探討財產稅資本化效果，皆可 以更準確的數據以及實證結果。最後，本研究不動產交易資料，從 2002 年到 2006 年共 166,098 筆資料，未來除了將其他縣市資料做進一步的研究分析之外，在未 來幾年各地方政府顯著調整地價稅以及房屋稅稅基之後，希冀可以有更新更完整 的資料，並透過多方面的分析與比較，提出改善財產稅制度的最佳方法。
‧ 國
立 政 治 大 學
‧
N a tio na
l C h engchi U ni ve rs it y
84
參考文獻
中文文獻
圖書：
林英彥 (2003) 不動產估價，第十版，文笙書局。
于宗先、王金利 (2008) 台灣賦稅體制之演變，初版，聯經。
徐偉初、歐俊男、謝文盛 (2016) 財政學，第四版，華泰文化。
期刊論文：
王宏文 (2010)，"台北市地價稅公平性之研究"，行政暨政策學報，51，47-76。
李泳龍 (1988)，"地價稅與地方公共設施對住宅區位選擇影響之研究-Tiebout 假 說在台北都會區之實證研究"，政治大學地政所碩士論文。
林子欽、林子雅 (2008)，"公部門不動產估價成效評估－公平性之觀點"，住宅學 報，17(2)，63-80。
林元興 (1999)，"土地持有課稅制之研究"，財政部賦稅署委託研究報告。
林森田、陳荔芬 (1993)，"地方公共設施效益與土地稅負擔資本化之研究"，政大 學報，67，423-457。
林森田、李泳龍 (1995)，"資本化效果及其土地政策上之應用"，台灣金融土地季 刊，32(2)，141-159。
張怡文、江穎慧與張金鶚 (2009)，"分量迴歸在大量估價模型之應用－非典型住 宅估價之改進"，都市與計畫，36(3)，281-304。
華昌宜 (1994)，"最適房地價稅率及其在台灣政策應用之探討"，人文及社會集刊，
6 (2)，63-77。
華昌宜 (1999)，"土地持有課稅制之研究"，財政部賦稅署委託研究報告。
黃呈錐 (2001)，"我國房屋現值標準單價改進研訂之芻議"，財稅研究，30(4)，
‧ 國
立 政 治 大 學
‧
N a tio na
l C h engchi U ni ve rs it y
85
63-78。
黃佳鈴、張金鶚 (2006)，"從房地價格分離探討地價指數之建立"，台灣土地研究，
8(2)，73-106。
黃淑惠 (1998)，"台灣地區公告地價評估結果之檢定"，台灣經濟，256，12-20。
黃朝琴 (1994)，"我國財產稅評價制度公平性之探討"，國立政治大學財政學系碩 士論文。
黃瓊瑤 (2002)，"現行區段地價查估程序、作法之合理性探討（二）"，現代地政，
247，14-16。
彭建文、吳森田與吳祥華 (2007)，"不動產有效稅率對房價影響分析-以台北市大 同區與內湖區為例"，台灣土地研究，10(2)，49-66。
廖誼溢 (2000)，"以標準宗地制度取代公告土地現值制度"，現代地政，234，
50-53。
蔡吉源(2001)，"再論土地稅制改革－兼論桃園經驗"，財稅研究，33(6)，117-155。
蔡吉源 (2001)，"台灣土地課稅制度：問題、影響與改革"，台灣土地研究，3，
37-82。
鄧瑞兆、蔡吉源 (1996)，"大台北地區財政區劃分之經濟性分析"，台灣銀行季刊，
46(4)，37-49。
英文文獻
Adair, A., Mcgreal, S., Smyth, A., Cooper, J., and Ryley, T. (2000), “House prices and accessibility: The testing of relationships within the Belfast urban area,” Housing Studies, 15(5), 699–716.
Allen, M. T. and W. Dare (2002), “Identifying Determinants of Horizontal Property Tax Inequity: Evidence from Florida,” Journal of Real Estate Research, 24(2), 153-164.
‧ 國
立 政 治 大 學
‧
N a tio na
l C h engchi U ni ve rs it y
86
Baer, David (2007), “State and Local Property Tax Burdens in 2005,”AARP Public Policy Institute.
Bradbury K. L., C. J. Mayer, and K. E. Case (2001), “Property tax limits and local fiscal behavior: Did Massachusetts cities and towns spend too little on town services under proposition ,” Journal of Public Economics, 80, 287-312.
Brasington D. M. (2001), “Capitalization and Community Size,” Journal of Urban Economics, 50, 385-395.
Brueckner, J. K. (2001), “Do Local Government Engage in Strategic Property-Tax Competition? ,” National Tax Journal, 54(2), 203-230.
Cebula, R. J., M. Foley, and R. Houmes (2011), “Property Tax Capitalization within a National Historic District versus Property Tax Capitalization outside that
National Historic District: Another Application of the Tiebout Hypothesis,”
International Journal of Economics and Finance, 3(4), 14-21.
Chinloy, P. (1978), “Effective Property Taxes and Tax Capitalization,” Canadian Journal of Economics, 11(4), 740-750.
Church, A. M. (1974), “Capitalization of the Effective Property Tax Rate on Single Family Residences,” National Tax Journal, 27(1), 113-122.
Cornia, G. C. and B. A. Slade (2005), “Property Taxation of Mutifamily Housing: An Empirical Analysis of Vertical and Horizontal Equity,” Journal of Real Estate Research, 27(1), 17-46.
Craig, E. D. (2003), “Land Value Taxes and Wellington and Delaware: A Case Study,”
Proceedings of the National Tax Association's Annual Conference on Taxation, 275-278.
De Cesare, C. and L. Ruddock (1998), “A New Approach to the Analysis of Assessment Equality,” Assessment Journal, 57-69.
‧ 國
立 政 治 大 學
‧
N a tio na
l C h engchi U ni ve rs it y
87
District of Columbia Government, Office of the Chief Financial Office, Office of Revenue Analysis (2006), “Tax Rates and Tax Burdens in the District of Columbia－A Nationwide Comparison 2005,” Washington, DC: DC Government.
Edel, M. and E. Sclar (1974), “Taxes, Spending, and Property Values: Supply Adjustment in a Tiebout-Oates Model,” Journal of Political Economy, 82(5), 941-954.
England, R. W. and M. Q. Zhao (2004), “Assessing the Distributive Impact of a Revenue-Neutral Shift from a Uniform Property Tax to a Two-Rate Property Tax with a Uniform Credit,” Lincoln Institute of Land Policy Working Paper, 1-19.
Evans, E. and Fox, R. (2002), “America's Best Low-Tax Retirement Towns,” Houston, TX: Vacation Publications.
Goodman, A. C. (1983), “Capitalization and Property Tax Differentials Within and Among Municipalities,” Land Economics, 59, 211-219.
Goodman, A. C. and T. G. Thibodeau (1998), “Housing Market Segmentation,”
Journal of Housing Economics, 7, 121-143.
Goolsby, W. C. (1997), “Assessment Error in the Valuation of Owner-Occupied Housing,” Journal of Real Estate Research, 13(1), 33-45.
Gronberg, T. J. (1979), “The International of Markets in Housing and Local Public Goods: A Simultaneous Equations Approach, ” Southern Economic Journal, 46, 445-459.
Gustely, R. D. (1976), “Local Taxes, Expenditures, and Urban Housing: A Reassessment of the Evidence,” Southern Economic Journal, 42, 659-665.
Harris, R. and Lehman, M. (2001), “Social and Geographic Inequalities in the Residential Property Tax: A Review and Case Study,” Environment and Planning A, 33(5), 881-900.
‧ 國
立 政 治 大 學
‧
N a tio na
l C h engchi U ni ve rs it y
88
Hartzok, A. (1997), “Pennsylvania's Success with Local Property Tax Reform: The Split-Rate Tax,” American Journal of Economics and Sociology, 56(2), 205-214.
Haughwout, A. F. (1997), “Central City Infrastructure Investment and Suburban House Values,” Regional Science and Urban Economics, 27, 199-215.
Haurin D. R. and D. M. Brasington (1996), “The Impact of School Quality on Real House Prices: Interjurisdictional Effects,” Journal of Housing Economics, 5, 351-368.
Hyman, D. and E. C. Pasour (1973), “Real Property Taxes, Local Public Services and Residential Property Values,” Southern Economic Journal, April, 601-611.
International Association of Assessing Officers (1978) , “Improving Real Property Assessment: A Reference Manual,” Chicago, IL: IAAO.
Janssen, C., Söderberg, B., & Zhou, J. (2001), “Robust estimation of hedonic models of price and income for investment property, ” Journal of Property Investment &
Finance, 19(4), 342–360.
Johnson, M. and M. Lea (1982), “Differential Capitalization of Local Public Service Characteristics,” Land Economics, 58, 189-203.
Kestens, Y., Theriault, M., and Rosier, F. D. (2006), “Heterogeneity in hedonic modelling of house prices: Looking at buyers’ household profiles,” Journal of Geographical Systems, 8(1), 61–96.
King, A. T. (1977), “Estimating Property Tax Capitalization: A Critical Comment,”
Journal of Political Economy, 85, 425-431.
Kiernan, J. (2016), “2016's Property Taxes by State,” Available at:
https://wallethub.com/edu/states-with-the-highest-and-lowest-property-taxes/115 85/
Koenker, R. and G. W. Bassett (1978), “Regression quantiles, ” Econometrica, 46(1):
211-244.
‧ 國
立 政 治 大 學
‧
N a tio na
l C h engchi U ni ve rs it y
89
Koenker, R. and K. F. Hallock (2001), “Quantile regression,” Journal of Economic Perspectives, 15(4): 143-156.
Kowalski, J. and P. Colwell (1986), “Market Versus Assessed Values of Industrial Land, ” Real Estate Economics, 14(2), 361-373.
Krants, D. P., R. D. Weaver and T. R. Alter (1982), “Residential Property Tax
Capitalization: Consistent Estimates Using Micro-Level Data,” Land Economics, 58(4), 488-496.
Lewis, C. and P. McNutt (1979), “The Incidence of Property Taxes on Single-Family Housing,” Journal of the American Real Estate and Urban Economics
Association, Fall, 344-361.
Lin, T. C. (2010), “Property Tax Inequity Resulting from Inaccurate Assessment-The Taiwan Experience,” Land Use Policy, 27, 511-517.
Man, J. (1995), “The Incidence of Differential Commercial Property Taxes: Empirical Evidence,” National Tax Journal, XLVIII(4), 479-496.
McDonald, J. F. and Y. Yurova (2006), “Are Property Taxes Capitalized in the Selling Price of Industrial Real Estate? ” Appraisal Journal, 74(3), 250-257.
McIntye, R., Denk, R., Francis, N., Gardner, M., Gomaa, W., Hsu, F. and Sims, R.
(2003), “Who Pays? A Distributional Analysis of the Tax Systems in All 50 States, Edition,” Washington, DC: The Institute on Taxation and Economic Policy.
Meadows, G. R. (1976), “Taxes, Spending, and Property Values: A Comment and Further Results,” Journal of Political Economy, 84, 869-880.
Mills, E. S. (1998), “The Economic Consequences of a Land Tax,” Land Value Taxation, Cambridge, MA: Lincoln Institute of Land Policy, 31-48.
Minnesota Taxpayers Association (2010), “50-State Property Tax Comparison Study,”
Saint Paul, MN: Minnesota Taxpayers Association. Available at:
‧ 國
立 政 治 大 學
‧
N a tio na
l C h engchi U ni ve rs it y
90
http://www.fiscalexcellence.org/
Noord P. (2005), “Tax Incentives and House Price Volatility in the EURO Area:
Theory and Evidence,” Economie international, 101(2005), 29-45.
Oates, W. E. (1969), “The Effects of Property Taxes and Local Public Spending on Property Values: An Empirical Study of Tax Capitalization and the Tiebout Hypothesis,” Journal of Political Economy, 77(6), 957-971.
Oates, W. E. (1973), “The Effects of Property Taxes and Local Public Spending on Property Values: A Reply and Yet Further Results,” Journal of Political Economy, 81, 1004-1008.
Oates, W. E. (1999), “Local Property Taxation: An Assessment,” Land Lines: Lincoln Institute of Land Policy, 11(3), 1-3.
Ogwang, T., and Wang, B. (2003), “The hedonic price function for a Northern BC Community,” Social Indicators Research, 61, 285–296.
Otegbulu, A. and O. Johnson (2011), “The Impact of Jacuzzi Bathtubs on House Prices, ” Journal of Sustainable Development, 4(3), 199-209.
Palmon, O. and B. A. Smith (1998a), “A New Approach for Identifying the Parameters of a Tax Capitalization Model,” Journal of Urban Economics, 44, 299-316.
Palmon, O. and B. A. Smith (1998b), “Confirmations and Contractions: New
Evidence on Property Tax Capitalization,” Journal of Political Economy, 106(5), 1099-1111.
Pollakowski, H. O. (1973), “The Effects of Property Taxes and Local Public Spending on Property Values: A Comment and Further Results,” Journal of Political Economy, 81, 994-1003.
Reck, C. (2003), “Heterogeneity and Black-white Labor Market Differences: Quantile Regression with Censored Data 1979-2001,” Urbana-Champign: Dept of
‧ 國
立 政 治 大 學
‧
N a tio na
l C h engchi U ni ve rs it y
91
Economics, University of Illinois.
Reinhard, R. M. (1981), “Estimation Property Tax Capitalization: A Further Comment,” Journal of Political Economy, 89, 1251-1260.
Richardson, D. H. and R. Thalheimer (1981), “Measuring the Extent of Property Tax Capitalization for Single Family Residences, ” Southern Economic Journal, 48, 674-689.
Rosen, S. (1974), “ Hedonic prices and implicit markets: Product differentiation in pure competition, ” Journal of Political Economy, 82, 34–55.
Rosen, H. S. and D. J. Fullerton (1977), “A Note on Local Tax Rates, Public Benefit Levels, and Property Values,” Journal of Political Economic, 85(2), 433-440.
Selim, H. (2009), “Determinants of house prices in Turkey: Hedonic regression versus artificial neural network, ” Expert System with Applications, 36(2), 2843–2852.
Siniavskaia, N. (2007), “Residential Real Estate Tax Rates in the American Community Survey, ” Housing Economics Online.
Stevenson, S. (2004), “New empirical evidence on heteroscedasticity in hedonic housing models, ” Journal of Housing Economics, 13, 136–153.
Stewart, D. (1978), “The Effect of Differential Property Tax Rates on the Sales Prices of Single-Family Residential Properties,” Review of Economics and Statistics, 60(1), 150-153.
Thrall, G. (1979), “A Geographic Criterion for Identifying Property-Tax Assessment Inequity,” Professional Geographer, 31(3), 278-283.
Tiebout, C. M. (1956), “A Pure Theory of Local Expenditure,” Journal of Political Economy, 64(5), 416-424.
Wales, T. J. and E. G. Wiens (1974), “Capitalization of Residential Property Taxes:
An Empirical Study,” Review of Economics and Statistics, 320-331.
Wilson, J. D. (1999), “Theories of Tax Competition,” National Tax Journal, 52(2),
‧ 國
立 政 治 大 學
‧
N a tio na
l C h engchi U ni ve rs it y
92
269-304.
Wu, W. C. and Y. J. Chen (2016), “Estimating Residential Property Tax Capitalization: Evidence from in Taipei,” Unpublished Manuscript, 1-31.
Wu, W. C., Chen, Y. J. and K. Zorn (2016), “The Empirical Evidence on the
Association between Effective Property Tax Rate and Property Characteristics,”
Unpublished Manuscript, 1-36.