Regulations can alter the price, quantity, or quality of goods in varying ways, so reading the regulation’s fine print is important to understand impacts.īenefits from housing-related tax policies generally skew toward wealthier homeowners. On the other hand, subsidies have the inverse effect of taxes: They lower the cost of goods to consumers, leading them to consume more.
Taxes also generate revenue that governments use to pay for public services. Taxes raise the price of the taxed good to consumers, often leading them to consume less.
All such policies have either direct or indirect redistributive effects. Twitter state, and local governments modify housing markets through a mixture of taxes, subsidies, and regulations, briefly summarized in Figure 1.
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