本文主要探討不動產有效稅率對空屋率之影響。不動產有效稅率可視為房屋擁有者之持有成本，當持有成本提升時，則房屋擁有者或因無法負擔此成本，而將其房屋進行出售或者出租的行為，因此空屋率會隨之下降。我們利用鄉鎮級資料並利用動態追蹤模型來驗證我們所關注的議題，實證結果發現當不動產有效稅率增加時，則空屋率會隨之下降，呈現顯著的負向影響。除此之外，我們發現此結果主要呈現在具有高空屋率的鄉鎮樣本之中，表示不動產有效稅率的調升效果，對過高的空屋率有一定的抑制效果，此一發現具有一定的政策意涵。

This paper investigates how the effective property tax rate affects the housing vacancy rate of Taiwan. The effective property rate can be considered the holding cost of the house owners. When the holding cost is too high, we may expect that the houseowners may sell or rent the houses in the market and thus the housing vacancy rate decreases. Through the township level data of Taiwan, our empirical results from the dynamic panel model indicate that the effective property rate has a significantly negative impact on the housing vacancy rate. Moreover, we also observe that the finding is mainly derived from the high housing vacancy rate areas.