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Moderating Urban Sprawl through Land Value Taxation

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  • Cho, Seong-Hoon
  • Lambert, Dayton M.
  • Roberts, Roland K.
  • Kim, Seung Gyu

Abstract

This research evaluates the effects of a hypothetical land value tax as a smart growth policy to curtail urban sprawl in the mid-sized metropolitan areas of the Southeastern United States. The effectiveness of a hypothetical land value tax on moderating urban sprawl is determined by changes in demand for neighborhood open space, and its relationships with lot size and proximity to the central business district (CBD). Achieving this goal will (1) provide applied researchers with an empirical foundation from which the spatial dynamics of urban sprawl in local housing markets can be measured, and (2) provide policy makers, especially in the large and mid-sized metro areas of the Southeast, with an ex ante instrument through which alternative incentives targeting open space preservation can be evaluated. We estimate the effects of a hypothetical land value tax on urban sprawl gauged through the three metrics of demand for neighborhood open space, lot size, and proximity to the CBD by comparing the forecasted values of the demand for these goods under alternative land value taxation schemes. The first is a “regular property tax” when the tax rates on the assessed values of land and structures are identical. The second is a hypothetical “land value tax” that places more weight on the value of land than on the value of structures, holding annual total county tax revenue constant.

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Bibliographic Info

Paper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 2008 Annual Meeting, July 27-29, 2008, Orlando, Florida with number 6150.

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Date of creation: 2008
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Handle: RePEc:ags:aaea08:6150

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Keywords: Community/Rural/Urban Development; Land Economics/Use;

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  1. Moreno, Rosina & López-Bazo, Enrique & Vaya, Esther & Artís, Manuel, 2000. "External Effects And Cost Of Production," ERSA conference papers ersa00p193, European Regional Science Association.
  2. Oates, Wallace E. & Schwab, Robert M., 1997. "The Impact of Urban Land Taxation: The Pittsburgh Experience," National Tax Journal, National Tax Association, vol. 50(1), pages 1-21, March.
  3. Lichtenberg, Erik & Tra, Constant & Hardie, Ian, 2007. "Land use regulation and the provision of open space in suburban residential subdivisions," Journal of Environmental Economics and Management, Elsevier, vol. 54(2), pages 199-213, September.
  4. Paul Thorsnes, 2002. "The Value of a Suburban Forest Preserve: Estimates from Sales of Vacant Residential Building Lots," Land Economics, University of Wisconsin Press, vol. 78(3), pages 426-441.
  5. Daniel C. Monchuk & John Miranowski & Dermot J. Hayes & Bruce A. Babcock, 2005. "Analysis of Regional Economic Growth in the U.S. Midwest, An," Center for Agricultural and Rural Development (CARD) Publications 05-wp392, Center for Agricultural and Rural Development (CARD) at Iowa State University.
  6. Kelejian, Harry H. & Prucha, Ingmar R., 2004. "Estimation of simultaneous systems of spatially interrelated cross sectional equations," Journal of Econometrics, Elsevier, vol. 118(1-2), pages 27-50.
  7. Boarnet, Marlon G. & Chalermpong, Saksith & Geho, Elizabeth, 2001. "Specification Issues in Models of Population and Employment Growth," University of California Transportation Center, Working Papers qt5fn0m74n, University of California Transportation Center.
  8. Kelejian, Harry H & Prucha, Ingmar R, 1999. "A Generalized Moments Estimator for the Autoregressive Parameter in a Spatial Model," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 40(2), pages 509-33, May.
  9. Brueckner, Jan K & Kim, Hyun-A, 2003. "Urban Sprawl and the Property Tax," International Tax and Public Finance, Springer, vol. 10(1), pages 5-23, January.
  10. Cho, Seong-Hoon & Kim, Seung Gyu & Clark, Christopher D. & Park, William M., 2007. "Spatial Analysis of Rural Economic Development Using a Locally Weighted Regression Model," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 36(1), April.
  11. Mills, David E., 2001. "Land value taxation," Regional Science and Urban Economics, Elsevier, vol. 31(6), pages 765-770, November.
  12. 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.
  13. Cohen, Jeffrey P. & Paul, Catherine J. Morrison, 2005. "Agglomeration economies and industry location decisions: the impacts of spatial and industrial spillovers," Regional Science and Urban Economics, Elsevier, vol. 35(3), pages 215-237, May.
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