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Measuring the Effects of a Land Value Tax on Land Development

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

Abstract

The objective of this research is to evaluate a land value tax as a potential policy tool to moderate sprawling development in Nashville, TN, the nation’s most sprawling metropolitan community with a population of one million or more. To achieve this objective, the hypothesis is empirically tested that a land value tax encourages more development closer to preexisting development than farther from preexisting development. Specifically, the marginal effects of a land value tax on the probability of land development is hypothesized to be greater in areas around preexisting development than in areas more distant from preexisting development. The findings show that the marginal effects of a land value tax on the probability of developing parcels that neighbored previously developed parcels was greater than the probability of developing parcels that did not neighbor previously developed parcels. This finding suggests that land value taxation could be used to design compact development strategies that address sprawling development.

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Bibliographic Info

Paper provided by Southern Agricultural Economics Association in its series 2009 Annual Meeting, January 31-February 3, 2009, Atlanta, Georgia with number 46760.

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Date of creation: 2009
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Handle: RePEc:ags:saeana:46760

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Keywords: Land value tax; Land development model; Urban sprawl; Land Economics/Use; Community/Rural/Urban Development;

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  1. Conley, T. G., 1999. "GMM estimation with cross sectional dependence," Journal of Econometrics, Elsevier, vol. 92(1), pages 1-45, September.
  2. Bell, Kathleen P. & Irwin, Elena G., 2002. "Spatially explicit micro-level modelling of land use change at the rural-urban interface," Agricultural Economics: The Journal of the International Association of Agricultural Economists, International Association of Agricultural Economists, vol. 27(3), November.
  3. Timothy G. Conley & Christopher R. Udry, 2010. "Learning about a New Technology: Pineapple in Ghana," American Economic Review, American Economic Association, vol. 100(1), pages 35-69, March.
  4. 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.
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  6. Irwin, Elena G. & Bockstael, Nancy E., 2004. "Land use externalities, open space preservation, and urban sprawl," Regional Science and Urban Economics, Elsevier, vol. 34(6), pages 705-725, November.
  7. Irwin, Elena G. & Bell, Kathleen P. & Geoghegan, Jacqueline, 2003. "Modeling and Managing Urban Growth at the Rural-Urban Fringe: A Parcel-Level Model of Residential Land Use Change," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 32(1), April.
  8. Andrew J. Plantinga & Stephanie Bernell, 2005. "A Spatial Economic Analysis of Urban Land Use and Obesity," Journal of Regional Science, Wiley Blackwell, vol. 45(3), pages 473-492.
  9. Elena G. Irwin, 2002. "Interacting agents, spatial externalities and the evolution of residential land use patterns," Journal of Economic Geography, Oxford University Press, vol. 2(1), pages 31-54, January.
  10. Nancy E. Bockstael, 1996. "Modeling Economics and Ecology: The Importance of a Spatial Perspective," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 78(5), pages 1168-1180.
  11. Bruce Katz, 2002. "Smart Growth: The Future of the American Metropolis?," CASE Papers case58, Centre for Analysis of Social Exclusion, LSE.
  12. 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.
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