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作者

来源

来源 JOURNAL OF URBAN ECONOMICS,Vol.94,P.54-72

语言

英文

关键字

Fiscal stress;School finance;Housing prices;Property taxes;H75;I2;R31

作者单位

Department of Economics, Oregon State University, 309 Ballard Ext. Hall, Corvallis, OR 97331, United States;Department of Economics, Oregon State University, 309 Ballard Ext. Hall, Corvallis, OR 97331, United States

摘要

This paper examines the effect of the Ohio fiscal stress labeling system on school district outcomes and housing prices. Under this policy, financially troubled districts are labeled and required to implement financial recovery plans. In response to these plans, districts increase local tax revenues and decrease capital and operating expenditures. Although these recovery plans lead to better long-term financial health for school districts, there appear to be some negative impacts on welfare in these districts during the duration of the label. I find that residential home sale prices fall following fiscal stress label receipt, but rise again once the label is removed. These districts also undergo substantial restructuring, including reductions in enrollments, teachers, and schools, which coincide with a transitory reduction in math proficiency rates following label receipt.