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Estimating the Cost of Preserving Private Lands in Florida: An Hedonic Analysis

Author

Listed:
  • Larkin, Sherry L.
  • Alavalapati, Janaki R.R.
  • Shrestha, Ram K.

Abstract

Florida’s open-space land-acquisition program is one of the most aggressive in the country, with $3.7 billion paid for 3.8 million acres since 1972. Using data from the Conservation and Recreational Lands (CARL) program, hedonic analyses found that acquiring private lands with valuable natural resources, habitat for rare species, and important historical sites for public preservation is more costly. Development potential and pressure also increased acquisition costs. The presence of additional endangered natural elements and needing to contract with additional landowners, however, were found to decrease the cost. Results provide a basis for landowners and land-acquisition agencies to negotiate.

Suggested Citation

  • Larkin, Sherry L. & Alavalapati, Janaki R.R. & Shrestha, Ram K., 2005. "Estimating the Cost of Preserving Private Lands in Florida: An Hedonic Analysis," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 37(01), April.
  • Handle: RePEc:ags:joaaec:43730
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    File URL: http://purl.umn.edu/43730
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    References listed on IDEAS

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    1. repec:cup:jagaec:v:33:y:2001:i:03:p:487-492_02 is not listed on IDEAS
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    4. Lansford, Notie H., Jr. & Jones, Lonnie L., 1995. "Marginal Price Of Lake Recreation And Aesthetics: An Hedonic Approach," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 27(01), July.
    5. Tyrvainen, Liisa & Miettinen, Antti, 2000. "Property Prices and Urban Forest Amenities," Journal of Environmental Economics and Management, Elsevier, vol. 39(2), pages 205-223, March.
    6. John Loomis & Vicki Rameker & Andy Seidl, 2004. "A hedonic model of public market transactions for open space protection," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 47(1), pages 83-96.
    7. P. Joan Poor & Kevin J. Boyle & Laura O. Taylor & Roy Bouchard, 2001. "Objective versus Subjective Measures of Water Clarity in Hedonic Property Value Models," Land Economics, University of Wisconsin Press, vol. 77(4), pages 482-493.
    8. Cynthia J. Nickerson & Lori Lynch, 2001. "The Effect of Farmland Preservation Programs on Farmland Prices," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 83(2), pages 341-351.
    9. Espey, Molly & Owusu-Edusei, Kwame, 2001. "Neighborhood Parks and Residential Property Values in Greenville, South Carolina," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 33(03), pages 487-492, December.
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    More about this item

    Keywords

    development pressure; Florida Forever; hedonic prices; implicit land values; land conversion; Preservation 2000; Land Economics/Use; Q24;

    JEL classification:

    • Q24 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Land

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