房屋稅資本化分析──以臺北市住家用房屋為例

本研究使用2012年至2019年內政部實價登錄交易資料，分析房屋稅有效稅率對於臺北市住家用房屋交易價格之影響。實證結果發現，在折現率3%之假設下，租稅資本化(tax capitalization)程度介於10%至14%，顯示大部分的房屋稅負將轉嫁於租屋族或買方。為檢視價格與有效稅率之間的內生性(endogeneity)問題對於實證結果的影響，本研究亦以2014年7月起臺北市大幅調升房屋標準單價作為準實驗(quasi-experiment)，根據斷點不連續迴歸(regression discontinuity design)估計結果所計算的資本化程度，仍發現房屋稅資本化程度偏低的現象。

This study utilizes the Real Estate Actual Transaction Price Inquiring System of the Ministry of the Interior from 2012 to 2019 to analyze the impact of effective house tax rates on residential housing prices in Taipei. The results show that the degree of tax capitalization ranges from 10% to 14% with a discount rate of 3%. This suggests that a significant portion of the house tax burden is passed on to renters or buyers. In order to address endogeneity, we exploit a substantial increase in the standard value of houses as a quasi-experiment. The degree of tax capitalization calculated based on regression discontinuity design (RDD) estimates also reveals a low level of house tax capitalization.