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An Analysis of Minimum Frontage Zoning to Preserve Lakefront Amenities

  • Fiorenza Spalatro
  • Bill Provencher
Registered author(s):

    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%.

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    File URL: http://le.uwpress.org/cgi/reprint/77/4/469
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    Article provided by University of Wisconsin Press in its journal Land Economics.

    Volume (Year): 77 (2001)
    Issue (Month): 4 ()
    Pages: 469-481

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    Handle: RePEc:uwp:landec:v:77:y:2001:i:4:p:469-481
    Contact details of provider: Web page: http://le.uwpress.org/

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    1. Crone, Theodore M., 1983. "Elements of an economic justification for municipal zoning," Journal of Urban Economics, Elsevier, vol. 14(2), pages 168-183, September.
    2. 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.
    3. William Fischel, 1980. "Externalities and zoning," Public Choice, Springer, vol. 35(1), pages 37-43, January.
    4. 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 783-86, November.
    5. Palmquist, Raymond B, 1980. "Alternative Techniques for Developing Real Estate Price Indexes," The Review of Economics and Statistics, MIT Press, vol. 62(3), pages 442-48, August.
    6. 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.
    7. 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 111-32, April.
    8. Grieson, Ronald E. & White, James R., 1989. "The existence and capitalization of neighborhood externalities: A reassessment," Journal of Urban Economics, Elsevier, vol. 25(1), pages 68-76, January.
    9. David M. Henneberry & Richard L. Barrows, 1990. "Capitalization of Exclusive Agricultural Zoning into Farmland Prices," Land Economics, University of Wisconsin Press, vol. 66(3), pages 249-258.
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