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An Analysis of Minimum Frontage Zoning to Preserve Lakefront Amenities

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  • Fiorenza Spalatro
  • Bill Provencher

Abstract

The development of lakefront property in northern Wisconsin has prompted, in several towns, minimum frontage zoning stricter than the state standard. Such zoning generates an economic loss by constraining development (development effect), and an economic gain by preserving environmental amenities (amenity effect). Estimation of a hedonic price function for lakefront property in northern Wisconsin quantifies these competing effects. The estimation indicates that at the current margin the economic loss from the development effect is negligible, and the economic gain from the amenity effect may be considerable, raising frontage prices by an average of 21.5%.

Suggested Citation

  • Fiorenza Spalatro & Bill Provencher, 2001. "An Analysis of Minimum Frontage Zoning to Preserve Lakefront Amenities," Land Economics, University of Wisconsin Press, vol. 77(4), pages 469-481.
  • Handle: RePEc:uwp:landec:v:77:y:2001:i:4:p:469-481
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    References listed on IDEAS

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    1. Colwell, Peter F & Sirmans, C F, 1993. "A Comment on Zoning, Returns to Scale, and the Value of Undeveloped Land," The Review of Economics and Statistics, MIT Press, vol. 75(4), pages 783-786, November.
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    4. Crone, Theodore M., 1983. "Elements of an economic justification for municipal zoning," Journal of Urban Economics, Elsevier, vol. 14(2), pages 168-183, September.
    5. Maser, Steven M & Riker, William H & Rosett, Richard N, 1977. "The Effects of Zoning and Externalities on the Price of Land: An Empirical Analysis of Monroe County, New York," Journal of Law and Economics, University of Chicago Press, vol. 20(1), pages 111-132, April.
    6. William Fischel, 1980. "Externalities and zoning," Public Choice, Springer, vol. 35(1), pages 37-43, January.
    7. Mark, Jonathan H. & Goldberg, Michael A., 1986. "A study of the impacts of zoning on housing values over time," Journal of Urban Economics, Elsevier, vol. 20(3), pages 257-273, November.
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    9. Brownstone, David & De Vany, Arthur, 1991. "Zoning, Returns to Scale, and the Value of Undeveloped Land," The Review of Economics and Statistics, MIT Press, vol. 73(4), pages 699-704, November.
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    Citations

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    Cited by:

    1. Lewis, David J., 2010. "An economic framework for forecasting land-use and ecosystem change," Resource and Energy Economics, Elsevier, vol. 32(2), pages 98-116, April.
    2. Horsch, Eric J. & Lewis, David J., 2008. "The Effects of Aquatic Invasive Species on Property Values: Evidence from a Quasi-random Experiment," Staff Paper Series 530, University of Wisconsin, Agricultural and Applied Economics.
    3. Eric J. Horsch & David J. Lewis, 2009. "The Effects of Aquatic Invasive Species on Property Values: Evidence from a Quasi-Experiment," Land Economics, University of Wisconsin Press, vol. 85(3), pages 391-409.
    4. Chamblee, John F. & Dehring, Carolyn A. & Depken, Craig A., 2009. "Watershed development restrictions and land prices: Empirical evidence from southern Appalachia," Regional Science and Urban Economics, Elsevier, vol. 39(3), pages 287-296, May.
    5. Grout, Cyrus A. & Jaeger, William K. & Plantinga, Andrew J., 2011. "Land-use regulations and property values in Portland, Oregon: A regression discontinuity design approach," Regional Science and Urban Economics, Elsevier, vol. 41(2), pages 98-107, March.
    6. Adelaja, Adesoji O. & Gottlieb, Paul D., 2009. "The Political Economy of Downzoning," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 38(2), October.
    7. Lewis, David J. & Provencher, Bill & Butsic, Van, 2009. "The dynamic effects of open-space conservation policies on residential development density," Journal of Environmental Economics and Management, Elsevier, vol. 57(3), pages 239-252, May.
    8. Tuttle, Carrie M. & Heintzelman, Martin D., 2013. "The Value of Forever Wild: An Economic Analysis of Land Use in the Adirondacks," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 42(1), April.
    9. Bark, R.H. & Osgood, D.E. & Colby, B.G. & Katz, G. & Stromberg, J., 2009. "Habitat preservation and restoration: Do homebuyers have preferences for quality habitat?," Ecological Economics, Elsevier, vol. 68(5), pages 1465-1475, March.
    10. Peter Colwell & Carolyn Dehring, 2005. "The Pricing of Lake Lots," The Journal of Real Estate Finance and Economics, Springer, vol. 30(3), pages 267-283, April.
    11. Lewis, David J. & Provencher, Bill, 2006. "The Implications of Heterogeneous Preferences for Environmental Zoning," Staff Paper Series 500, University of Wisconsin, Agricultural and Applied Economics.
    12. Noelwah R. Netusil, 2005. "The Effect of Environmental Zoning and Amenities on Property Values: Portland, Oregon," Land Economics, University of Wisconsin Press, vol. 81(2).
    13. Katz, G. & Colby, Bonnie G. & Osgood, Daniel E. & Bark-Hodgins, Rosalind H. & Stromberg, J., 2005. "Do Homebuyers Care about the 'Quality' of Natural Habitats?," 2005 Annual meeting, July 24-27, Providence, RI 19283, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    14. Carolyn A. Dehring & Melissa S. Lind, 2007. "Residential Land-Use Controls and Land Values: Zoning and Covenant Interactions," Land Economics, University of Wisconsin Press, vol. 83(4), pages 445-457.
    15. Sinden, Jack A., 2003. "Influence of Conservation of Native Vegetation on Land Values in Moree Plains Shire, NSW," Working Papers 12903, University of New England, School of Economics.

    More about this item

    JEL classification:

    • Q25 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Water
    • R52 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Land Use and Other Regulations

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