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Economic Impact of Growth Management Policies Surrounding the Chesapeake Bay

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  • W. Patrick Beaton
  • Marcus Pollock

Abstract

Where land-use controls are advanced for use in environmental protection programs, strong political objections usually arise. To reduce this threat, Maryland's Critical Area Law was structured to provide landowners with equity preserving options and to present jurisdictions with the opportunity for future development. This paper studies the subject real estate markets during a six-year period before and after the law was implemented. The findings show that these objectives were achieved. Vacant land values did not decline; residential values grew significantly.

Suggested Citation

  • W. Patrick Beaton & Marcus Pollock, 1992. "Economic Impact of Growth Management Policies Surrounding the Chesapeake Bay," Land Economics, University of Wisconsin Press, vol. 68(4), pages 434-453.
    • Handle: RePEc:uwp:landec:v:68:y:1992:i:4:p:434-453
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    Cited by:

    1. Robert M. Hunt & Tim VandenBerg, 1998. "Discouraging Federal actions that reduce the value of private property: evaluating procedural and financial approaches," Working Papers 98-24, Federal Reserve Bank of Philadelphia.
    2. Charles Ka Yui LEUNG & Wai Yip MA & Jun ZHANG, 2014. "The Market Valuation of Interior Design and Developer Strategies: A Simple Theory and Some Evidence," International Real Estate Review, Global Social Science Institute, vol. 17(1), pages 63-107.

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