ABSTRACT
A real estate tax on factories, shops, and the like could conceivably be levied on the destination principle. The incidence of a tax on housing may be explored with partial equilibrium analysis for any local unit. Taxes on transfers for a consideration differ from sales taxes in being imposed chiefly on transfers of ownership to portions of a more or less fixed stock, notably real estate and securities. If the business real estate tax is being imposed, or increased, all over the country by roughly the same amount, its differential incidence is almost random with respect to income class. The land taxes would create no excess burden, but the floor area and volume taxes would alter substantially the design of buildings, depending on how the tax base was defined. An increase in the city's income tax rates may cause property values to decline and so also the yield of the property tax.
