time of the improved property transaction and then calculate land leverage (the ratio of land to total property value). A … hedonic model is estimated and used to predict land leverage for all improved properties. We conclude that the matching …

value will depend critically on how much of its value is represented by land value, a proportion we call land leverage. The … importance of this deconstruction is demonstrated by highlighting how land leverage helps to explain variation in house price … appreciation in Wichita, Kansas. The use of Wichita to demonstrate a land leverage effect is noteworthy, because its house price …