Fig. 4: Local government vulnerability to loss of revenue due to property devaluation.
From: Unpriced climate risk and the potential consequences of overvaluation in US housing markets
Top: municipalities are grouped by county. Orange hues indicate the proportion of municipal revenue derived from property taxes and purple hues indicate property overvaluation as a proportion of total property value; colour breaks are by decile. Counties in black and outlined in red indicate municipalities that are both heavily reliant on property tax revenue and have high overvaluation. Bottom: histograms indicate distribution of municipal population characteristics, with all counties in grey and counties in the top quintile of both overvaluation and property tax revenue (outlined in red in map) in red. Vertical dashed lines indicate median values. Municipal tax revenue data were derived from the Government Finance Database32. The counties shapefile was downloaded from the US Census Bureau45.
