The effect of farmland preservation programs on farmland prices.

Government agencies in urbanizing areas are increasingly utilizing purchase and transfer of development rights programs to preserve farmland and protect local farm economies. This article tests the effect of development restrictions imposed by permanent easement sales on farmland sales prices, using Maryland data. We correct for selectivity bias due to the voluntary nature of these programs in estimating hedonic sales equations. Although preserved parcels' actual land values are lower, the effect of the restrictions is not statistically significant. These findings may encourage additional participation in preservation programs or justify reductions in the easement prices paid by agencies.

MoreLess

Year of publication:	2001-05
Authors:	Nickerson, C.J. ; Lynch, L.
Institutions:	USDA, ERS (contributor)
Subject:	purchase of development rights \| calvert country \| maryland \| transfer of development rights \| howard county \| programs \| carroll county \| valuation \| agricultural land \| land values \| land use \| land policy \| costs and returns \| state government \| local government \| equations \| laws and regulations \| urbanization \| Maryland

Full text |

More access options

Check Google Scholar

I need help

More details

Type of publication:	Article
Language:	English
Notes:	American journal of agricultural economics. May 2001. v. 83 (2), p. 341-351.
Source:	BASE

Persistent link: https://www.econbiz.de/10009429460