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Residential Land Values in Urbanizing Areas

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Author Info
Kaltsas, Ioannis K.
Bosch, Darrell J.
McGuirk, Anya
Abstract

Zoning decisions related to residential lot size and density affect residential land value. Effects of size on residential parcel value in Roanoke County, VA, are estimated with fixed effects hedonic models. Parcel size; elevation; soil permeability; proximity to urban areas, malls, and roads; and location influence parcel value, but the effects vary by value of construction and development status. Parcel value per square meter declines with increasing parcel size. The estimated relationships could be used to evaluate zoning decisions in terms of land values and tax revenues if model estimation uncertainties and responses by developers to zoning strategies are considered.

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File URL: http://purl.umn.edu/47204
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Publisher Info
Article provided by Southern Agricultural Economics Association in its journal Journal of Agricultural and Applied Economics.

Volume (Year): 40 (2008)
Issue (Month): 02 (August)
Pages:
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Handle: RePEc:ags:joaaec:47204

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Related research
Keywords: development; fixed effects; hedonic model; property values; residential density; spatial econometrics; Agribusiness; Land Economics/Use; Q24; C25; C52;

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References listed on IDEAS
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  1. McCluskey, Jill Jennifer & Rausser, Gordon C., 1999. "Estimation of perceived risk and its effect on property values," CUDARE Working Paper Series 879, University of California at Berkeley, Department of Agricultural and Resource Economics and Policy, revised 2000.
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  2. Raymond B. Palmquist & Fritz M. Roka & Tomislav Vukina, 1997. "Hog Operations, Environmental Effects, and Residential Property Values," Land Economics, University of Wisconsin Press, vol. 73(1), pages 114-124. [Downloadable!] (restricted)
  3. Bucholtz, Shawn & Geoghegan, Jacqueline & Lynch, Lori, 2003. "Capitalization of Open Spaces into Housing Values and the Residential Property Tax Revenue Impacts of Agricultural Easement Programs," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 32(1), April. [Downloadable!]
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This page was last updated on 2009-12-11.

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