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There are several views on the incidence of property taxes. a. Under the traditional view, who...

There are several views on the incidence of property taxes.

a. Under the traditional view, who pays the tax on land? On structures? Explain

b. Under the “new view,” who pays the tax? Explain, and outline the output and substitution

effects.

c. When might it not make sense to think of property taxes as a “tax”? Explain

d. Briefly outline how all three views might be relevant.

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