[go: up one dir, main page]
IDEAS home Printed from https://ideas.repec.org/a/uwp/landec/v77y2001i4p469-481.html
   My bibliography  Save this article

An Analysis of Minimum Frontage Zoning to Preserve Lakefront Amenities

Author

Listed:
  • 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
    as

    Download full text from publisher

    File URL: http://le.uwpress.org/cgi/reprint/77/4/469
    Download Restriction: A subscripton is required to access pdf files. Pay per article is available.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    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.
    2. 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.
    3. 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.
    4. J.M. Pogodzinski & Tim R. Sass, 1991. "Measuring the Effects of Municipal Zoning Regulations: A Survey," Urban Studies, Urban Studies Journal Limited, vol. 28(4), pages 597-621, August.
    5. Crone, Theodore M., 1983. "Elements of an economic justification for municipal zoning," Journal of Urban Economics, Elsevier, vol. 14(2), pages 168-183, September.
    6. 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.
    7. François Vaillancourt & Luc Monty, 1997. "The Effect of Agricultural Zoning on Land Prices, Quebec, 1975-1981," Land Economics, University of Wisconsin Press, vol. 62(1), pages 36-42.
    8. William Fischel, 1980. "Externalities and zoning," Public Choice, Springer, vol. 35(1), pages 37-43, January.
    9. 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.
    10. Palmquist, Raymond B, 1980. "Alternative Techniques for Developing Real Estate Price Indexes," The Review of Economics and Statistics, MIT Press, vol. 62(3), pages 442-448, August.
    11. 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.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. 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), pages 1-20, April.
    2. 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.
    3. 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), pages 1-19, October.
    4. Horsch, Eric J. & Lewis, David J., 2008. "The Effects of Aquatic Invasive Species on Property Values: Evidence from a Quasi-Random Experiment," Staff Papers 92216, University of Wisconsin-Madison, Department of Agricultural and Applied Economics.
    5. 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.
    6. 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.
    7. 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.
    8. Sanglim Yoo & John E. Wagner, 2016. "A review of the hedonic literatures in environmental amenities from open space: a traditional econometric vs. spatial econometric model," International Journal of Urban Sciences, Taylor & Francis Journals, vol. 20(1), pages 141-166, March.
    9. 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.
    10. 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.
    11. 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.
    12. 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.
    13. Jean Cavailhès & Thierry Brossard & Jean-Christophe Foltête & Mohamed Hilal & Daniel Joly & François-Pierre Tourneux & Céline Tritz & Pierre Wavresky, 2009. "GIS-Based Hedonic Pricing of Landscape," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 44(4), pages 571-590, December.
    14. 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).
    15. 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).
    16. 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.
    17. 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.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Lawrence W. C. Lai & Winky K. O. Ho, 2001. "A Probit Analysis of Development Control: A Hong Kong Case Study of Residential Zones," Urban Studies, Urban Studies Journal Limited, vol. 38(13), pages 2425-2437, December.
    2. J.M. Pogodzinski & Tim R. Sass, 1991. "Measuring the Effects of Municipal Zoning Regulations: A Survey," Urban Studies, Urban Studies Journal Limited, vol. 28(4), pages 597-621, August.
    3. 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), pages 1-19, October.
    4. Thorsnes, Paul, 2000. "Internalizing Neighborhood Externalities: The Effect of Subdivision Size and Zoning on Residential Lot Prices," Journal of Urban Economics, Elsevier, vol. 48(3), pages 397-418, November.
    5. Thorson, James A., 1997. "The Effect of Zoning on Housing Construction," Journal of Housing Economics, Elsevier, vol. 6(1), pages 81-91, March.
    6. Jeremy R. Groves & Eric Helland, 2002. "Zoning and the Distribution of Location Rents: An Empirical Analysis of Harris County, Texas," Land Economics, University of Wisconsin Press, vol. 78(1), pages 28-44.
    7. Michael White & Philip Allmendinger, 2003. "Land-use Planning and the Housing Market: A Comparative Review of the UK and the USA," Urban Studies, Urban Studies Journal Limited, vol. 40(5-6), pages 953-972, May.
    8. Ritter, Matthias & Hüttel, Silke & Odening, Martin & Seifert, Stefan, 2020. "Revisiting the relationship between land price and parcel size in agriculture," Land Use Policy, Elsevier, vol. 97(C).
    9. 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.
    10. Hee Jin Yang & Jihoon Song & Mack Joong Choi, 2016. "Measuring the Externality Effects of Commercial Land Use on Residential Land Value: A Case Study of Seoul," Sustainability, MDPI, vol. 8(5), pages 1-15, April.
    11. Cameron K. Murray, 2021. "Marginal and average prices of land lots should not be equal: A critique of Glaeser and Gyourko’s method for identifying residential price effects of town planning regulations," Environment and Planning A, , vol. 53(1), pages 191-209, February.
    12. Latruffe, Laure & Minviel, Jean Joseph & Salanié, Julien, 2013. "The role of environmental and land transaction regulations on agricultural land price: The example of the French region Brittany," Working Papers 207855, Institut National de la recherche Agronomique (INRA), Departement Sciences Sociales, Agriculture et Alimentation, Espace et Environnement (SAE2).
    13. Davidoff, Thomas & Pavlov, Andrey & Somerville, Tsur, 2022. "Not in my neighbour’s back yard? Laneway homes and neighbours’ property values," Journal of Urban Economics, Elsevier, vol. 128(C).
    14. Colwell, Peter F. & Munneke, Henry J., 1997. "The Structure of Urban Land Prices," Journal of Urban Economics, Elsevier, vol. 41(3), pages 321-336, May.
    15. B. James Deaton & John P. Hoehn & Patricia E. Norris, 2007. "Net Buyers, Net Sellers, and Agricultural Landowner Support for Agricultural Zoning," Land Economics, University of Wisconsin Press, vol. 83(2), pages 153-165.
    16. Latruffe, Laure & Salanié, Julien & Minvie, Jean Joseph, 2013. "The Role of Environmental and Land Transaction Regulations on Agricultural Land Price: The example of Brittany," Working papers 157111, Factor Markets, Centre for European Policy Studies.
    17. 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.
    18. Lawrence W C Lai & Kwong Wing Chau & Edward C Y Yiu & Kelvin S K Wong & Wah Sang Wong & Pearl Y L Chan, 2007. "Measuring and Interpreting the Effects of a Public-Sector-Led Urban Renewal Project on Housing Prices—An Empirical Study of a Comprehensive Development Area Zone Developed upon ‘Taking’ in Hong ," Environment and Planning B, , vol. 34(3), pages 524-538, June.
    19. Peter Phibbs & Nicole Gurran, 2021. "The role and significance of planning in the determination of house prices in Australia: Recent policy debates," Environment and Planning A, , vol. 53(3), pages 457-479, May.
    20. Jeanty, Pierre Wilner & Kraybill, David S. & Libby, Lawrence W. & Sohngen, Brent, 2002. "Effects Of Local Development Pressure On Land Prices: A Spatial Economic Approach," 2002 Annual meeting, July 28-31, Long Beach, CA 19767, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

    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

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:uwp:landec:v:77:y:2001:i:4:p:469-481. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: the person in charge (email available below). General contact details of provider: http://le.uwpress.org/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.