How Does the Property Taxes Influence House Prices

In the decentralized market system,as the main revenue stream of local government,the property taxes not only influenced the efficiency of public goods supply,but also involved the resource allocation and the level of social welfare.In this paper,we reviewed the Benefit View,the New and Classical Views,Yinger's Theory of Capitalization,and examined the theoretical literature on the impact of property taxes on house prices.We try to expose the skeleton and direction of the research in the foundation of previous effort,and provide some valuable enlightenment.