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

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  • 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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  • Liu, Xiangping & Taylor, Laura O. & Hamilton, Timothy L. & Grigelis, Peter E., 2013. "Amenity values of proximity to National Wildlife Refuges: An analysis of urban residential property values," Ecological Economics, Elsevier, vol. 94(C), pages 37-43.
    • Handle: RePEc:eee:ecolec:v:94:y:2013:i:c:p:37-43
    DOI: 10.1016/j.ecolecon.2013.06.011
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    Cited by:

    1. Casola, William R. & Peterson, M. Nils & Pacifici, Krishna & Sills, Erin O. & Moorman, Christopher E., 2023. "Conservation motivations and willingness to pay for wildlife management areas among recreational user groups," Land Use Policy, Elsevier, vol. 132(C).
    2. Julie M. Mueller & John B. Loomis & Leslie Richardson & Ryan A. Fitch, 2022. "Valuing impacts of proximity to Saguaro National Park on house prices," Applied Economic Perspectives and Policy, John Wiley & Sons, vol. 44(3), pages 1359-1372, September.
    3. Casola, William R. & Peterson, M. Nils & Sills, Erin O. & Pacifici, Krishna & Moorman, Christopher E., 2022. "Economic contributions of wildlife management areas in North Carolina," Forest Policy and Economics, Elsevier, vol. 140(C).

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    More about this item

    Keywords

    National Wildlife Refuges; Open space; Amenity values; Hedonic analysis;
    All these keywords.

    JEL classification:

    • Q24 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Land
    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
    • Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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