‘Common Law’: How Property Taxes Can Drive Gentrification
Certain property tax schemes designed to give rapidly gentrifying neighborhoods a tax break might be disproportionately benefiting white homebuyers, explains Professor Andrew Hayashi on the latest episode of “Common Law,” a podcast of the University of Virginia School of Law.
Hayashi, director of the school’s Virginia Center for Tax Law and an expert in tax law and policy and behavioral law and economics, recently wrote a paper on the subject, “Dynamic Property Taxes and Racial Gentrification,” published in the Notre Dame Law Review.
Hayashi and hosts Risa Goluboff and Cathy Hwang discuss the tax plans that lead to discriminatory results, including caps on tax increases and phased-in tax changes based on periodic real estate assessments. They also talk about the history of taxes aggravating racial inequalities, tax deferral regimes and the recent drive to tax wealth to address economic inequality.
This season, called “Co-Counsel” features a rotating set of co-hosts: Hwang, Danielle K. Citron, John C. Harrison and Gregory Mitchell. Each is joining Goluboff to discuss cutting-edge research on law topics of their choice.
Founded in 1819, the University of Virginia School of Law is the second-oldest continuously operating law school in the nation. Consistently ranked among the top law schools, Virginia is a world-renowned training ground for distinguished lawyers and public servants, instilling in them a commitment to leadership, integrity and community service.