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Journal Article

The distributional impact of recurrent immovable property taxation in Greece

Authors

Publication date

2020

Summary

During the last decade, Greece faced one of the most severe debt crises among developed countries, leading to Economic Adjustment Programs in order to avoid a disorderly default. Public expenditure was cut, tax rates were increased and new taxes were introduced, aiming at restoring public finances. Prominent among the latter were recurrent property taxes that had played a very minor role before the crisis. These taxes helped to boost public revenues but were hugely unpopular. The paper examines in detail their distributional impact and finds that they led to increases in inequality and (relative) poverty. The result is stronger in the case of inequality indices that are relatively more sensitive to changes close to the bottom of the distribution and poverty indices that are sensitive to the distribution of income among the poor.

Published in

Public Sector Economics

Volume and page numbers

44 , 505 -528

DOI

https://doi.org/10.3326/pse.44.4.4

ISSN

16

Subjects

Households, Economics, Poverty, Public Policy, Welfare Benefits, Income Dynamics, Microsimulation, Taxation, Economic Policy, and Housing Market

Notes

Open Access; This is an Open Access article distributed under a a Creative Commons Attribution-NonCommercial 4.0 International License (CC-BY-NC) which permits non commercial use and redistribution, as long as you give appropriate credit, provide a link to the license, and indicate if changes were made.

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