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How Well Can Markets for Development Rights Work? Evaluating a Farmland Preservation Program AgEcon
McConnell, Virginia D.; Kopits, Elizabeth; Walls, Margaret.
Transferable development rights (TDRs) can be used as a local planning tool to preserve land for particular uses. TDRs separate ownership of the right to develop land from ownership of the land itself, creating a market in which the development rights can be bought and sold. Landowners who sell TDRs permanently preserve their land in an undeveloped state; those TDRs are then used to increase the density of development elsewhere. In this paper, we evaluate a TDR program for preserving farmland in Calvert County, Maryland. We evaluate the performance of the TDR market over the 23-year life of the program by looking at the number of transactions and TDRs sold and the level and dispersion of prices over time. We also look closely at the influence of the county...
Tipo: Working or Discussion Paper Palavras-chave: Land use; Farmland preservation; Development rights; Land Economics/Use; Q15; Q24; R140.
Ano: 2003 URL: http://purl.umn.edu/10659
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Economic Benefits of Farmland Preservation: Evidence from the United States AgEcon
Lynch, Lori; Duke, Joshua M..
For the last 50 years, local, state and the federal governments have expressed concerns about farmland retention. Four benefits have been used to warrant farmland preservation programs: food security and local food supply, viable local agricultural economy, environmental and rural amenities, and sound fiscal policy and orderly development. We explore the available evidence of how well farmland preservation programs have provided these benefits. Research suggests that people clearly desire farmland preservation programs and express a willingness to pay for the environmental and rural amenities provided. Some evidence has been found that farmland preservation programs can benefit the local economy and/or have no negative impacts relative to other economic...
Tipo: Working or Discussion Paper Palavras-chave: Farmland preservation; Food security; Environmental amenities; Rural amenities; Land Economics/Use.
Ano: 2007 URL: http://purl.umn.edu/7342
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EFFECTIVENESS OF USE-VALUE ASSESSMENT IN PRESERVING FARMLAND: A SEARCH-THEORETIC APPROACH AgEcon
Tavernier, Edmund M.; Li, Farong.
Search theory is used to present a theoretically defensible model to examine the effectiveness of use value assessment (UVA) in preserving farmland. The model is empirically tractable and supports the findings of past research. The analysis considers the impact of farm income, uncertainty, and the distribution of the offer price on the effectiveness of UVA in preserving farmland and shows, through the effect on the reservation price, that for a given distribution of the offer price, property-tax rate, and the difference between market-value and use-value of land, the preservation of agricultural land only takes place within a relevant range.
Tipo: Journal Article Palavras-chave: Farmland preservation; Offer price; Reservation price; Search theory; Uncertainty; Use-value assessment; Land Economics/Use.
Ano: 1995 URL: http://purl.umn.edu/15258
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Competition-Based Environmental Policy: An Analysis of Farmland Preservation in Maryland AgEcon
Horowitz, John K.; Lynch, Lori; Stocking, Andrew.
This paper studies bidder behavior in an innovative program in which farmers compete to sell their development rights to the State. We derive a reduced form bidding model that includes both private value and common value components. This model allows us to estimate the role of bidder competition, the winner’s curse correction, and the underlying distribution of private values. We find that competition reducelers adjust for a possible winner’s curse by increasing their bids by roughly 10 percent over their reservation values. Using the inferred reservation values, we compare this program to an alternative take-it-or-leave-it offer. We find that a take-it-or-leave-it offer of 50 percent of development values would have preserved more farmland for an...
Tipo: Working or Discussion Paper Palavras-chave: Farmland preservation; First-price auctions; Interdependent values; Winners curse; Environmental Economics and Policy; Land Economics/Use.
Ano: 2007 URL: http://purl.umn.edu/7340
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A RELATIVE EFFICIENCY ANALYSIS OF FARMLAND PRESERVATION PROGRAMS AgEcon
Lynch, Lori; Musser, Wesley N..
Using an inverted Farrell methodology, we analyze the relative efficiency of five agricultural land preservation programs in three counties of Maryland in achieving the stated goals of maximum acreage, threatened parcels, and productive farms. Regression analysis is then used to compare the programs both within and between counties.
Tipo: Conference Paper or Presentation Palavras-chave: Farmland preservation; Efficiency analysis; Productivity Analysis; Resource /Energy Economics and Policy.
Ano: 1999 URL: http://purl.umn.edu/21639
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PRESERVATION OR DEVELOPMENT: COMPETING USES OVER THE FUTURE OF FARMLAND IN URBANIZING AREAS AgEcon
Nickerson, Cynthia J.; Bockstael, Nancy E..
Tipo: Conference Paper or Presentation Palavras-chave: Land use; Farmland preservation; Competing risks models; Multinomial logit models; Resource /Energy Economics and Policy.
Ano: 2001 URL: http://purl.umn.edu/20703
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The impact of large-lot zoning and open space acquisition on home building in rural communities AgEcon
Gottlieb, Paul D.; O'Donnell, Anthony; Rudel, Thomas; O'Neill, Karen; McDermott, Melanie.
Local governments in the United States use a wide range of tools to preserve rural landscapes. Some of these tools, like the purchase or transfer of development rights, are generally welcomed by farmers and other large landowners. Other tools, like increasing the minimum lot size in a town’s agricultural zone, are more controversial because they are believed to have negative effects on landowner wealth. In this contentious policy environment, it would be useful to know which land use tools actually work to control residential growth, thus achieving the consensual objective of rural preservation. It is reasonable to suppose that large-lot zoning and open space preservation will both reduce the number of homes in a community when it is fully developed....
Tipo: Conference Paper or Presentation Palavras-chave: Land use; Farmland preservation; Zoning; Housing; Community/Rural/Urban Development; Land Economics/Use; R52; R14; R31.
Ano: 2009 URL: http://purl.umn.edu/49310
Registros recuperados: 7
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