The Value of Land Use Patterns and Preservation Policies

Land Use;Open-space Preservation;Community Preservation Act;Housing;Natural Resources and Environment

Heintzelman, MartinYaffee, Steven ;

University of Michigan

关键词: Land Use;    Open-space Preservation;    Community Preservation Act;    Housing;    Natural Resources and Environment;   

Others  :  https://deepblue.lib.umich.edu/bitstream/handle/2027.42/69227/heintzelman%20thesis.pdf?sequence=1&isAllowed=y

瑞士|英语

来源: The Illinois Digital Environment for Access to Learning and Scholarship

【 摘 要 】

In many communities, land-use and open-space preservation have become importantconcerns. Using a large dataset containing every home sale in the state of Massachusettsover 8 years, this paper simultaneously measures the impact of the mix of land-uses inthe immediate neighborhood of a home on property values and the impact of a locallyimplementedprogram, the Community Preservation Act (CPA), which provides funds forlocal open-space and historic preservation as well as a ordable housing. I exploit the panelnature of the dataset to conduct a di erence-in-di erences analysis using local as well ashouse levelxed e ects to overcome omitted variables bias. My results indicate that, onaverage, passage of the CPA reduces property values by about 1.5% in Massachusetts towns.However, when I allow the CPA e ect to di er by county, Ind some heterogeneity - itincreases property values in some communities and reduces them in others. Variation in localspending priorities appears to have little impact on property values or the e ect of the CPA.Finally, Ind that cropland and pasture, as well as low-density residential development,are the most preferred local land-uses, and that homes are more expensive as one increasesdistance to highways and active rail lines.