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Are Community-Nuisance Fiscal Zoning Arrangements Undermined by State Property Tax Reforms? Evidence from Nuclear Power Plants and School Finance Equalization

  • Justin M. Ross

The conventional view of fiscal zoning is that communities make land use accommodations only for nuisance entities that generate sufficient net fiscal benefits. State reforms that redistribute property tax revenues have been accused of undermining these decisions ex-post. This paper tests this critique by examining communities with nuclear power plants sited before the school finance equalization reforms of the 1970s and 1980s. Hedonic regressions reveal these reforms to disproportionately reduce housing prices in nuclear plant communities but increase them among neighboring areas. This pattern of interjurisdictional capitalization is consistent with the concerns raised by critics of these reforms.

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Article provided by University of Wisconsin Press in its journal Land Economics.

Volume (Year): 89 (2013)
Issue (Month): 3 ()
Pages: 449-465

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Handle: RePEc:uwp:landec:v:89:y:2013:iii:1:p:449-465
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  1. David M. Brasington & Diane Hite, . "Demand for Environmental Quality: A Spatial Hedonic Approach," Departmental Working Papers 2005-08, Department of Economics, Louisiana State University.
  2. Sudip Chattopadhyay, 1999. "Estimating the Demand for Air Quality: New Evidence Based on the Chicago Housing Market," Land Economics, University of Wisconsin Press, vol. 75(1), pages 22-38.
  3. Stephanie Riegg Cellini & Fernando Ferreira & Jesse Rothstein, 2010. "The Value of School Facility Investments: Evidence from a Dynamic Regression Discontinuity Design," The Quarterly Journal of Economics, MIT Press, vol. 125(1), pages 215-261, February.
  4. David Brasington & D. Hite, . "Demand for Environmental Quality: A Spatial Hedonic Analysis," Departmental Working Papers 2003-02, Department of Economics, Louisiana State University.
  5. Beron, Kurt & Murdoch, James & Thayer, Mark, 2001. "The Benefits of Visibility Improvement: New Evidence from the Los Angeles Metropolitan Area," The Journal of Real Estate Finance and Economics, Springer, vol. 22(2-3), pages 319-37, March-May.
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