Unpacking the impacts of the Low-Income Housing Tax Credit program on nearby property values Academic Article

abstract

• Most existing research on the impacts of the Low-Income Housing Tax Credit (LIHTC) on neighbouring property values is limited in terms of providing causal attribution and uncovering nuances in the role of housing market and neighbourhood composition. This article addresses these shortcomings by investigating the impacts of the LIHTC program in Charlotte, North Carolina and Cleveland, Ohio. Levels and trends in housing prices before and after LIHTC developments in neighbourhoods are examined based on parcel-level housing sales data from 1996 to 2007. The Adjusted Interrupted Time Series-Difference in Differences (AITS-DID) model is used to clarify the causal direction of impacts of LIHTC developments. The results show that LIHTC developments have negative impacts in Charlotte, while having upgrading effects in Cleveland. Also, these impacts vary across neighbourhoods income heterogeneity. Thus, care should be taken when siting LIHTC developments to minimise negative impacts and enhance its use for community revitalisation across different housing market conditions.

authors

• Van Zandt, Shannon

published proceedings

• URBAN STUDIES

altmetric score

• 23.75

author list (cited authors)

• Woo, A., Joh, K., & Van Zandt, S.

citation count

• 29

complete list of authors

• Woo, Ayoung||Joh, Kenneth||Van Zandt, Shannon

publication date

• September 2016

publisher

• SAGE Publications  Publisher

keywords

• Housing Prices
• Low-income Housing Tax Credit
• Neighbourhood
• Neighbourhood Heterogeneity
• Planning
• Spillover Effects
• Subsidised Housing

Digital Object Identifier (DOI)

• 10.1177/0042098015593448

start page

• 2488

end page

• 2510

volume

• 53

issue

• 12

URL

• http%3A%2F%2Fdx.doi.org%2F10.1177%2F0042098015593448

user-defined tag

• 11 Sustainable Cities and Communities