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The Influence of Reservoir Projects on Land Values

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  • Jack L. Knetsch

Abstract

The economic effects of water resource development projects may be more fully appraised by taking account of land value changes. An estimate is made of the anticipated land increment of a planned project, based on an analysis of value changes near existing TVA reservoirs. The estimated values of the land effected are found to vary, depending on site and locational characteristics. The value increases, in the case examined, are substantial and are due mainly to the value of the project as a recreational and amenity resource, although not all of the recreational benefits are thereby calculated. The results and methods used should have relevance to discussions of repayment policy, planning, management, and operating decisions, and in assessing the impact of other kinds of public investment.

Suggested Citation

  • Jack L. Knetsch, 1964. "The Influence of Reservoir Projects on Land Values," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 46(1), pages 231-243.
    • Handle: RePEc:oup:ajagec:v:46:y:1964:i:1:p:231-243.
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    File URL: http://hdl.handle.net/10.2307/1236486
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    Cited by:

    1. Carolyn A. Dehring & Craig A. Depken & Michael R. Ward, 2007. "The Impact Of Stadium Announcements On Residential Property Values: Evidence From A Natural Experiment In Dallas‐Fort Worth," Contemporary Economic Policy, Western Economic Association International, vol. 25(4), pages 627-638, October.
    2. Tihansky, Dennis P., 1973. "An Economic Assessment of Marine Water Pollution Damages," File Manuscripts, United States National Marine Fisheries Service, Economic Research Division, number 233636, January.
    3. Ovchinnikova, Natalia V. & Czap, Hans J. & Lynne, Gary D. & Larimer, Christopher W., 2009. ""I don't want to be selling my soul": Two experiments in environmental economics," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 38(2), pages 221-229, March.
    4. Epp, Donald J., 1969. "Recreational Reservoirs As a Stimulus to Community Economic Development," WAEA/ WFEA Conference Archive (1929-1995) 323603, Western Agricultural Economics Association.
    5. Abbott, Joshua K. & Allen Klaiber, H., 2013. "The value of water as an urban club good: A matching approach to community-provided lakes," Journal of Environmental Economics and Management, Elsevier, vol. 65(2), pages 208-224.
    6. Cho, Seong-Hoon & Bowker, James Michael & Park, William M., 2006. "Measuring the Contribution of Water and Green Space Amenities to Housing Values: An Application and Comparison of Spatially Weighted Hedonic Models," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 31(3), pages 1-23, December.
    7. Vandeveer, Lonnie R. & Drummond, H. Evan, 1976. "Estimating The Differential Change In Land Use Associated With Reservoir Construction," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 8(1), pages 1-6, July.
    8. Zygmunt, Robert & Gluszak, Michal, 2015. "Forest proximity impact on undeveloped land values: A spatial hedonic study," Forest Policy and Economics, Elsevier, vol. 50(C), pages 82-89.
    9. Lori Dickes & Elizabeth Crouch, 2015. "The Impact of Changing Lake Levels on Property Values: A Hedonic Model of Lake Thurmond," The Review of Regional Studies, Southern Regional Science Association, vol. 45(3), pages 221-235, Winter.

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