Tax and Occupancy of Business Properties: Evidence from UK Business Rate Reliefs

• 成果类型: Article
• 署名作者: Lockwood, Ben; Simmler, Martin; Tam, Eddy H. F.
• 署名单位: University of Warwick; University of Oxford; Leibniz Association; Ifo Institut; University of London; King's College London
• 刊物名称: AMERICAN ECONOMIC JOURNAL-ECONOMIC POLICY
• ISSN/ISSBN: 1945-7731
• DOI: 10.1257/pol.20240302
• 发表日期: 2026
• 关键词: regression; inference; LEASES; DESIGN

摘要

We study how UK property tax rates impact commercial vacancies and rents, using new data and exploiting exogenous variations in two major property tax reliefs: small business relief and retail relief. We estimate that both reliefs are effective at achieving their objectives. A given monetary relief per property will lead to a bigger reduction in vacancies for eligible properties if given via retail relief, because small business relief is targeted only at small businesses. Small business relief has a bigger effect in clusters of urban properties, while both reliefs are more effective in reducing retail vacancies in less deprived areas.