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Residential Land Values in Urbanizing Areas

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  • Kaltsas, Ioannis K.
  • Bosch, Darrell J.
  • McGuirk, Anya

Abstract

Zoning decisions related to residential lot size and density affect residential land value. Effects of size on residential parcel value in Roanoke County, VA, are estimated with fixed effects hedonic models. Parcel size; elevation; soil permeability; proximity to urban areas, malls, and roads; and location influence parcel value, but the effects vary by value of construction and development status. Parcel value per square meter declines with increasing parcel size. The estimated relationships could be used to evaluate zoning decisions in terms of land values and tax revenues if model estimation uncertainties and responses by developers to zoning strategies are considered.

Suggested Citation

  • Kaltsas, Ioannis K. & Bosch, Darrell J. & McGuirk, Anya, 2008. "Residential Land Values in Urbanizing Areas," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 40(2), pages 635-647, August.
    • Handle: RePEc:cup:jagaec:v:40:y:2008:i:02:p:635-647_02
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    References listed on IDEAS

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    Cited by:

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    More about this item

    JEL classification:

    • Q24 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Land
    • C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions; Probabilities
    • C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection

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