Many local jurisdictions offer property tax exemptions or similar concessions to older citizens. Such exemptions represent substantial intergenerational transfers and may have important implications for local public finances. The consequences of age-based property tax exemptions depend upon the extent to which they influence households' location decisions, housing tenure decisions, and housing consumption. We provide the first evidence on (long-term) changes in household composition and housing consumption attributable to local, age-based property tax exemptions. We construct a unique database of local property tax exemptions in Georgia covering 100 years of county, school district, and selected city property tax laws. We use these data to estimate the effect of age-based property tax exemptions on the number of older homeowners from 1970–2010 attributable to the exemption. Using a "quadruple-difference" estimation strategy, we find a significant increase in older homeowners attributable to the combined effect of age-based property tax exemptions on location decisions and housing tenure. We also find evidence that age-based property tax exemptions increase housing consumption among older households. Finally, we estimate a sorting model to estimate the equilibrium effects of different tax policies.

许多地方司法管辖区为老年人提供财产税免税或类似的优惠。这种豁免代表了重大的代际转移，并且可能对地方公共财政产生重要影响。基于年龄的财产免税的后果取决于它们在多大程度上影响家庭的位置决定，住房使用权决定和住房消费。我们提供了关于（长期）家庭构成和住房消费变化（长期变化）的最初证据，这些变化归因于当地基于年龄的财产免税。我们在佐治亚州建立了一个独特的地方财产免税数据库，涵盖了100年的县，学区和部分城市财产税法律。我们使用这些数据来估算基于年龄的财产税免税额对免税额在1970-2010年间对老年房主人数的影响。使用“四倍差”估计策略，我们发现老年房主的显着增加归因于基于年龄的物业免税对位置决定和房屋使用权的综合影响。我们还发现有证据表明，基于年龄的财产免税可以增加老年家庭的住房消费。最后，我们估计一个排序模型，以估计不同税收政策的均衡效应。我们还发现有证据表明，基于年龄的财产免税可以增加老年家庭的住房消费。最后，我们估计一个排序模型，以估计不同税收政策的均衡效应。我们还发现有证据表明，基于年龄的财产免税可以增加老年家庭的住房消费。最后，我们估计一个排序模型，以估计不同税收政策的均衡效应。