The Effect of Conservation Activity on Surrounding Land Prices
This paper presents an empirical analysis of the structure of land prices both before and after land conservation occurs. Using data describing 12 years of vacant land transactions in Buncombe County, North Carolina, we find that fee simple conservations, as opposed to conservation easements, occur in higher-priced areas, but that lower-valued parcels within these areas are selected for conservation. We find positive price effects from land conservation of 46%. This premium declines with distance from the conserved parcel but does so to a lesser extent with easements, perhaps suggesting the market’s perception that conservation easements are more permanent than parcels conserved in fee.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
References listed on IDEAS
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.:
- Mark R. Correll & Jane H. Lillydahl & Larry D. Singell, 1978. "The Effects of Greenbelts on Residential Property Values: Some Findings on the Political Economy of Open Space," Land Economics, University of Wisconsin Press, vol. 54(2), pages 207-217.
- Margot Lutzenhiser & Noelwah R. Netusil, 2001. "The Effect Of Open Spaces On A Home'S Sale Price," Contemporary Economic Policy, Western Economic Association International, vol. 19(3), pages 291-298, 07.
- Carolyn Dehring & Neil Dunse, 2006. "Housing Density and the Effect of Proximity to Public Open Space in Aberdeen, Scotland," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 34(4), pages 553-566, December.
- repec:cup:jagaec:v:33:y:2001:i:03:p:487-492_02 is not listed on IDEAS
- Vernon W. Ruttan, 1971.
"Technology and the Environment,"
American Journal of Agricultural Economics,
Agricultural and Applied Economics Association, vol. 53(5), pages 707-717.
- Ruttan, Vernon W., 1971. "Technology And The Environment," Staff Papers 14026, University of Minnesota, Department of Applied Economics.
- Adina M. Merenlender, 2006. "Habitat and Open Space at Risk of Land-Use Conversion: Targeting Strategies for Land Conservation," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 88(1), pages 28-42.
- Kohlhase, Janet E., 1991. "The impact of toxic waste sites on housing values," Journal of Urban Economics, Elsevier, vol. 30(1), pages 1-26, July.
- Jonathan R. King & Christopher M. Anderson, 2004. "Marginal Property Tax Effects of Conservation Easements: A Vermont Case Study," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 86(4), pages 919-932.
- Cheshire, Paul & Sheppard, Stephen, 1995. "On the Price of Land and the Value of Amenities," Economica, London School of Economics and Political Science, vol. 62(246), pages 247-267, May.
- Mitchell Polinsky, A. & Shavell, Steven, 1976. "Amenities and property values in a model of an urban area," Journal of Public Economics, Elsevier, vol. 5(1-2), pages 119-129.
- Mashour, Terri & Alavalapati, Janaki & Matta, Rao & Larkin, Sherry & Carter, Doug, 2005. "A hedonic analysis of the effect of natural attributes and deed restrictions on the value of conservation easements," Forest Policy and Economics, Elsevier, vol. 7(5), pages 771-781, August.
- Anderson, Soren T. & West, Sarah E., 2006. "Open space, residential property values, and spatial context," Regional Science and Urban Economics, Elsevier, vol. 36(6), pages 773-789, November.
- Espey, Molly & Owusu-Edusei, Kwame, 2001. "Neighborhood Parks And Residential Property Values In Greenville, South Carolina," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 33(03), December.
- Lubowski, Ruben N. & Vesterby, Marlow & Bucholtz, Shawn & Baez, Alba & Roberts, Michael J., 2006. "Major Uses of Land in The United States, 2002," Economic Information Bulletin 7203, United States Department of Agriculture, Economic Research Service. Full references (including those not matched with items on IDEAS)