Estimating a Payment Vehicle for Financing Nourishment of Residential Beaches using a Spatial-lag Hedonic Property Price Model
AbstractBeach nourishment projects are common methods for coastal states to protect beaches and property from the natural erosive process. However, while the beneficiaries of beach nourishment tend to be local property owners and recreators, projects are typically funded at the state level. Based on the benefit principle, as local residents receive more of the erosion protection benefits of the nourishment projects, we estimate a value capture tax, designed to levy the financing burden in a manner that approximates the distribution of benefits. The benefits of nourishment projects to coastal property owners are estimated using the results from a spatial-lag hedonic model that controls for viewshed effects. Key Words:
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Bibliographic InfoPaper provided by Department of Economics, Appalachian State University in its series Working Papers with number 09-23.
Date of creation: 2009
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-09-19 (All new papers)
- NEP-GEO-2009-09-19 (Economic Geography)
- NEP-PPM-2009-09-19 (Project, Program & Portfolio Management)
- NEP-URE-2009-09-19 (Urban & Real Estate Economics)
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