U.S. Floor-Space Adjusted Property Tax Collections

Change in real property tax collections adjusted for increase in square footage 

Note: Includes residential, commercial, and industrial square footage changes. The Consumer Price Index for All Urban Consumers (CPI-U) is the standard national measure of inflation. State and local governments often favor the Implicit Price Deflator for State and Local Government Purchases (IPDSL), which is intended to capture inflationary increases within state and local government sectors. Note that as a combined state and local measure, the Implicit Price Deflator includes health care and social welfare costs not as pertinent to local governments.
Chart: Walczak Policy Consulting, The SALT Road SubstackSource: U.S. Census Bureau; U.S. Bureau of Labor Statistics; U.S. Department of Energy; Moura et. al., "120 Years of U.S. Residential Housing Stock and Floor Space"; author's calculations. Download imageCreated with Datawrapper