The Effect of Conservation Activity on Surrounding Land Prices
AbstractThis paper presents an empirical analysis of the structure of land prices both before and after land conservation occurs. Using data describing 12 years of vacant land transactions in Buncombe County, North Carolina, we find that fee simple conservations, as opposed to conservation easements, occur in higher-priced areas, but that lower-valued parcels within these areas are selected for conservation. We find positive price effects from land conservation of 46%. This premium declines with distance from the conserved parcel but does so to a lesser extent with easements, perhaps suggesting the market’s perception that conservation easements are more permanent than parcels conserved in fee.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by University of Wisconsin Press in its journal Land Economics.
Volume (Year): 87 (2011)
Issue (Month): 3 ()
Contact details of provider:
Web page: http://le.uwpress.org/
Find related papers by JEL classification:
- H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
- Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Frey, Elaine F. & Palin, Marissa B. & Walsh, Patrick J. & Whitcraft, Christine R., 2013. "Spatial Hedonic Valuation of a Multiuse Urban Wetland in Southern California," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 42(2), August.
- Tuttle, Carrie M. & Heintzelman, Martin D., 2013. "The Value of Forever Wild: An Economic Analysis of Land Use in the Adirondacks," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 42(1), April.
- Beal-Hodges, Mary, 2012. "Conservation land acquisition lists and nearby property values: evidence from the Florida Forever programme," Studies in Agricultural Economics, Research Institute for Agricultural Economics, vol. 114(1), April.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().
If references are entirely missing, you can add them using this form.