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Amenity values of proximity to National Wildlife Refuges: An analysis of urban residential property values

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Author Info

  • Liu, Xiangping
  • Taylor, Laura O.
  • Hamilton, Timothy L.
  • Grigelis, Peter E.

Abstract

This research quantifies the property value benefits of National Wildlife Refuges near urban areas on the eastern coast of the U.S.A. Our approach is made possible through access to confidential U.S. Census data identifying property values surrounding all refuges with high geographic resolution. Results from hedonic property value models suggest that the amenity values of refuges located near urbanized areas are capitalized into the value of homes in very close proximity, averaging $11million per refuge. These capitalized values add directly to the local tax base and are considerable complements to the annual economic value created by the refuge system.

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Bibliographic Info

Article provided by Elsevier in its journal Ecological Economics.

Volume (Year): 94 (2013)
Issue (Month): C ()
Pages: 37-43

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Handle: RePEc:eee:ecolec:v:94:y:2013:i:c:p:37-43

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Web page: http://www.elsevier.com/locate/ecolecon

Related research

Keywords: National Wildlife Refuges; Open space; Amenity values; Hedonic analysis;

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  8. 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.
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  10. Steven C. Deller & Tsung-Hsiu (Sue) Tsai & David W. Marcouiller & Donald B.K. English, 2001. "The Role of Amenities and Quality of Life In Rural Economic Growth," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 83(2), pages 352-365.
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  12. Kuminoff, Nicolai V. & Parmeter, Christopher F. & Pope, Jaren C., 2010. "Which hedonic models can we trust to recover the marginal willingness to pay for environmental amenities?," Journal of Environmental Economics and Management, Elsevier, vol. 60(3), pages 145-160, November.
  13. Cho, Seong-Hoon & Poudyal, Neelam C. & Roberts, Roland K., 2008. "Spatial analysis of the amenity value of green open space," Ecological Economics, Elsevier, vol. 66(2-3), pages 403-416, June.
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