The Transition of Land to Urban Use

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The Transition of Land to Urban Use

Author Info

Richard Arnott
Frank D. Lewis

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Abstract

This paper investigates the economics of the transition of land from rural to urban use. A simple model examines the developer's problem: when and at what density should vacant land be developed to maximize the present value of land. Simple rules emerge relating the timing and density of new development. The timing rules are similar to those of Shoup; however, unlike Shoup, we express them in terms of market observables. In latter half of the paper, the rules are tested against recent Canadian experience and perform well.

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Publisher Info
Paper provided by Queen's University, Department of Economics in its series Working Papers with number 267.

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Length: 16
Date of creation: 1977
Date of revision:
Handle: RePEc:qed:wpaper:267

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Article
- Arnott, Richard J & Lewis, Frank D, 1979. "The Transition of Land to Urban Use," Journal of Political Economy, University of Chicago Press, vol. 87(1), pages 161-69, February. [Downloadable!] (restricted)

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

Teemu Lyytikäinen, 2007. "The Effect of Three-rate Property Taxation on Housing Construction," VATT Discussion Papers 419, Government Institute for Economic Research (VATT). [Downloadable!]
Richard Arnott & Petia Petrova, 2002. "The Property Tax as a Tax on Value: Deadweight Loss," Boston College Working Papers in Economics 532, Boston College Department of Economics. [Downloadable!]
Other versions:
- Richard Arnott & Petia Petrova, 2002. "The Property Tax as a Tax on Value: Deadweight Loss," NBER Working Papers 8913, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
- Richard Arnott & Petia Petrova, 2006. "The Property Tax as a Tax on Value: Deadweight Loss," International Tax and Public Finance, Springer, vol. 13(2), pages 241-266, May. [Downloadable!] (restricted)
Karl Guntermann, 1997. "Residential Land Prices Prior to Development," Journal of Real Estate Research, American Real Estate Society, vol. 14(1), pages 1-18. [Downloadable!]
Marcy Burchfield & Henry G. Overman & Diego Puga & Matthew A. Turner, 2005. "Causes of sprawl: A portrait from space," Working Papers tecipa-192, University of Toronto, Department of Economics. [Downloadable!]
Other versions:
- Marcy Burchfield & Henry G. Overman & Diego Puga & Matthew A. Turner, 2006. "Causes of Sprawl: A Portrait from Space," The Quarterly Journal of Economics, MIT Press, vol. 121(2), pages 587-633, May. [Downloadable!] (restricted)
Richard Arnott, 1998. "Neutral Property Taxation," Boston College Working Papers in Economics 411., Boston College Department of Economics. [Downloadable!]
Other versions:
- Richard Arnott, 2006. "Neutral Property Taxation," Berkeley Program on Housing and Urban Policy, Working Paper Series 1025, Berkeley Program on Housing and Urban Policy. [Downloadable!]
- Richard Arnott, 2005. "Neutral Property Taxation," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 7(1), pages 27-50, 02. [Downloadable!] (restricted)
K.C. Wong & George Norman, 1994. "The Optimal Time of Renovating a Mall," Journal of Real Estate Research, American Real Estate Society, vol. 9(1), pages 33-48. [Downloadable!]
Amit Batabyal & Basudeb Biswas, 2005. "Endogenizing the Reservation Value in Models of Land Development Over Time and Under Uncertainty," ERSA conference papers ersa05p163, European Regional Science Association. [Downloadable!]
Other versions:
- Amitrajeet Batabyal & Basudeb Biswas, 2004. "Endogenizing the Reservation Value in Models of Land Development Over Time and Under Uncertainty," Working Papers 2004-18, Utah State University, Department of Economics. [Downloadable!]
Jack Ochs & S.K. Han, 2006. "Tax Increment Financing," Working Papers 237, University of Pittsburgh, Department of Economics, revised Jan 2006. [Downloadable!]

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